Word: bonde
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Dates: during 1970-1979
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...staffers knew that inflation and an unsound bond market threatened to put the housing out of the financial grasp of the tenants. Harvard volunteered a plan where an estimated $300,000 in costs per year could be shaved off the project, just enough to put RTH over the top. It was a simple suggestion--but one that was difficult for RTH to refuse. Harvard offered to supply the housing project with free steam, chilled water, and cooling from its own power plant, thus inextricably linking the two. RTH accepted early this year. With that fait accompli, RTH had no choice...
...says frankly, "I don't think they have a case." He predicts a speedy and unobstructed power plant ground-breaking for the fall. Moulton suggests that Harvard isn't worried about any of the aspects of the power plant or housing project plans right now--except for the tight bond market that could hold up the project's construction. Charles U. Daly, vice president for government and community affairs, says of the housing bonds, "The welfare of the project is tied to what Abe Beame and Governor Carey do in New York City." But Moulton even seems confident about that...
...Doug Peach, 57, the son and grandson of bricklayers, for 33 years one of the company's 3,000 employees, now a full-time "convenor" for the largest union at Rubery Owen, the Transport and General Workers Union (TGWU)?* Whether such men can find some bond of common self-interest will determine the fate of Britain's economy and Wilson's Labor government−and quite possibly more. To help assess the conflict, TIME London Correspondent William McWhirter spent two weeks with managers and workers, observing a company at war with itself...
...bedevil the economy. After rising sharply during the first half of the year, largely on hopes that inflation had abated and the recovery was well under way, the stock market has tumbled recently. Last week the Dow Jones industrial average closed at 805, down 21 points for the week. Bond prices also dipped on news of the July rise in living costs, and interest rates continued to creep upward-a sign that lenders, too, expect inflation to remain rampant and are determined to extract a higher price for their money...
...left behind is human beings-the unemployed who won't find jobs on the gentle slopes of recovery." The threat of renewed inflation is only one reason for this worry. Interest rates are rising, discouraging business borrowing. Last week New Jersey Bell Telephone and Con Edison put off bond offerings totaling $155 million and Manhattan's First National City Bank raised its prime rate on business loans a quarter point, to 7¾%. Also, the stimulus of the $18 billion of 1975 tax cuts and rebates will be largely exhausted by next year...