Word: billions
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Dates: during 1970-1979
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These institutions still have a pot of money-the state mutual savings banks alone command $145 billion in deposits-but they are being squeezed. As a result, mortgage money is getting tighter, just as all borrowing rates are rising. The prime rate went up last week to a record...
...this has been conceived, directed, and largely financed by one man: Daniel Keith Ludwig; 82, the secretive shipowner and industrialist whose estimated net worth of $3 billion or more makes him the richest American. Tough-minded and intensely shy, Ludwig is sole owner of his enterprises and thus must answer to no one. Operating from offices in Manhattan's Burlington House, he runs a maze of companies (he has 19 in Brazil alone). His flagship firm, National Bulk Carriers, operates one of the world's largest private fleets of huge supertankers and cargo ships. He is also proprietor...
...announced earlier, putting Chrysler in striking distance of a new record for the largest loss in corporate history. Plagued with incompetent managers for the past decade, Chrysler is now close to defaulting on its loans, no small problem--the tenth largest corporate mogul in America is over half a billion dollars in debt. And its repeated boostings of its loss estimates have not reassured the lending institutions, which seem to have written Chrysler off as a bad risk: the Federal Reserve concluded last week that the commercial banks have only lent Chrysler 50 per cent of the credit they...
Late this July, the then unrepentent company went to Capitol Hill with the crafty smugness of overconfidence. Its representatives intended to shake down the United States Congress for a fast billion...
...MBTA is extending the Red Line three miles northwest to the Alewife Brook Parkway. Total costs for the project, scheduled to be completed in May 1984, are estimated at about half a billion...