Word: bond
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Dates: during 1980-1989
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...this year's production began last week, but the show has been in the making since last summer, when groups of undergraduates submitted scripts in competition to be selected by the officers of Hasty Pudding Theatricals Entires this year included a Depression stock market drama and a James Bond-type adventure, but Jungle Belles, written by Anthony D. Calnek '84 and Alison R. Taylor...
Cost considerations are giving some localities pause. Last summer Houston voters resoundingly rejected a $2.35 billion bond issue for mass transit, despite the fact that it would have meant no new taxes for the first leg. As a result, the city lost all but $5.5 million of the $110 million in federal aid it had been allocated from the gas-tax fund, and its proposed 18-mile heavy-rail system appears to be on permanent hold. "It's a humbling experience to take a licking like we did," admits Alan Kiepper, general manager of Houston's Metropolitan Transit...
When children reached into Christmas stockings and ripped open presents last week, thousands of youngsters probably found a thin, crisp gift that represented an investment in their future: a U.S. savings bond. After a four-year slide in popularity, Uncle Sam's bonds are staging a comeback. The Treasury Department reports that sales of the notes totaled $3.9 billion during the past twelve months, up 20% from the previous year...
...surge stems from the Government's decision in November 1982 to offer variable rates of interest on savings bonds. When bond sales slumped in the early 1980s, they carried fixed interest rates as low as 7% at a time when inflation was nearly twice that level. Now the interest on the bonds is adjusted every six months to reflect market rates. The new bonds, which pay 85% of the average return on five-year Treasury securities, currently offer interest of 9.38%. Says Treasury Secretary Donald Regan: "The product is well designed and competitive...
Last year's peppier bond sales still ran far below the $7.8 billion pace of 1978. Nonetheless, Treasury officials are convinced that the savings bond is on its way back to being a blue-chip investment and a superb stocking stuffer...