Word: boca
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...work at the St. Louis Archdiocese, though secure, paid little, and her pension is less than $1,500 a year. Yet Wilson allegedly indulged a taste for furs and designer clothes and held an expensive country-club membership. In 1970 she built a $100,000 home in Boca Raton, Fla., since sold. The Cardinal is said to have paid Wilson a secret church salary of up to $11,500 during a six-year period from 1969 to 1975 when she leased and furnished a luxury apartment on Chicago's Gold Coast. She now divides her time between...
DIED. Joseph Curran, 75, booming-voiced founder and longtime president of the National Maritime Union of America; of cancer; in Boca Raton, Fla. Curran took to the sea at 16, got fired for leading his first strike in 1936 and founded the seamen's union the next year. A rough-and-tumble organizer, he ruled the union from 1937 to 1973, building membership to 100,000 after World War II. Fewer than 20,000 active seamen are members today...
...seeking retirees are as plentiful as six-packs of Gatorade, Eckerd College has quite another capital idea. Eckerd, founded in 1958, has only 1,120 undergraduates and relies on a smallish $8 million endowment. But among its assets are 267 palmy, balmy acres of campus right on beautiful Boca Ciega Bay. Eckerd's idea: build houses on some of its land and sell or rent them to retirees. The college wants to put up 500 condominiums and a 270-unit high-rise-complete with nearby shopping center, conference hall, nursing facility and marina. Eckerd considers all this...
...money to keep off the loan sharks. Their staggering losses in silver the past couple of months have forced them to go, stetson in hand, to bankers in the U.S. and abroad. The weekend after Silver Thursday, they showed up uninvited at the Reserve City Bankers Association convention in Boca Raton, Fla., to plead for help in meeting their debts. The brothers supposedly told leading bankers that they probably owed about $1.7 billion. Over cups of coffee and cold cheese sandwiches, the moneymen debated long into the night whether to give the Hunts a loan. Federal Reserve Chairman Paul Volcker...
Whether hiding out in London or in Boca Raton, Fla., where he was reported to have dropped in on a weekend bankers' convention, Hunt was busy tidying up business deals. The silver baron woke up last Monday morning with IOUs scattered all over Wall Street. Chief among them: $33 million to Bache Halsey Stuart Shields; $10 million to Paine Webber and $4 million to St. Louis Broker A.G. Edwards. The biggest debt was owed to Engelhard Minerals and Chemical Co. Hunt had contracts to buy 19 million oz. of silver from the firm at $35 per oz. Fulfilling that...