Word: borrower
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Dates: during 1950-1959
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...hundredth part of it. We didn't know, for instance, that we had unions where a criminal record was almost a prerequisite to holding office under the national union. We didn't know that we had top trade-union leaders who made it a practice to secretly borrow the funds of their union...
...billion for the second three months. Since program stretchouts are slow to take hold, this would have meant either 1) enormous cuts to bring the budget back into line by the end of the second quarter-something military planners refused to accept, or 2) forcing the aircraft industry to borrow huge sums to pay the Government's bills...
While the new funds will not solve all the industry's problems, they will ease much of the strain. Originally, planemakers estimated that they might be forced to borrow between $1.5 billion and $2 billion to keep going without full progress payments on contracts. Fortnight ago, after a calmer calculation, the spread was down to $800 million. Now with an additional $300 million available, the gap is only $500 million all told. Of this amount, the industry will probably have to borrow $300 million, while the Air Force hopes to find enough loose change in its various financial pigeonholes...
Most of the planemakers will probably have to find some new financing. Boeing Airplane Co., which rolled out its first civilian 707 jet transport last week and has a $2.1 billion backlog of military orders, estimates that it will have to borrow between $150 million and $200 million to meet payrolls and other costs. But after all the rumbles of wholesale layoffs shutdown plants and delays in plane deliveries, Boeing President William McPherson Allen seemed satisfied with the new targets. He expected to escape ''precipitous'' job cutbacks; he also predicted that both the Air Force...
...capital market by utilizing retained earnings, and so are not restricted by high interest rates. Similarly, firms in a sufficiently monopolistic market to have some control over their own prices can pass along increased capital cost to consumers. Firms in the competitive markets, however, find themselves unable to borrow at current rates or to find funds even if they can afford it. The discriminatory influence of the policy can be seen in relative amounts of recent investment: between the last quarter of 1954 and the second quarter of 1956, firms with assets over $100 million have increased their gross investment...