Word: borrower
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Dates: during 1960-1969
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...exhausting. In the evening he reads or studies with a small group the works of Mao Tse-tung. Several of the shorter essays have to be memorized, especially those that describe the communist soldier's duties--obey the Party, love the People. That means, he learns, return what you borrow, do favors for the peasants, don't mistreat their daughters...
...close last week at 451), soaring operating losses ($16.4 million for the first three quarters of '66) and a bloated backlog of unfilled orders ($3.2 billion worth), Douglas desperately needs about $400 million in new financing. The company for weeks has been negotiating with eight major banks to borrow most of that amount...
...capacity to produce, setting the stage for a classic "demand-pull" inflation. Economists say that inflation occurs when prices rise 2% a year or more, which often happens when times are good, money is easy, and too many dollars chase too few goods. At such times, manufacturers borrow heavily to increase production and work forces, and output jumps unnaturally high. Prices climb ever upward. Unless the Government acts quickly and wisely to restore stability, a day of reckoning comes sooner or later. Demand drops to normal levels - perhaps because consumers become surfeited with goods or are unwilling to pay inflated...
...money shortage worsened, and at one point the nation came uncomfortably close to a money panic. Prime interest rates went up four different times, shooting from 4½% in late 1965 to 6% in mid-1966 - equal to an increase of 33% in twelve months. A wave of hedge-borrowing and money hoarding swept the country. Figuring that money would become steadily scarcer and costlier, corporate treasurers borrowed more than they needed. In June, the Chase Manhattan Bank raised interest rates on most consumer loans for the first time since 1959, to 5½% "discounted" (in effect...
...annually to provide new services and improve technology, has always raised the bulk of its money through sale of stock, got less than 35% of it from the long-term money market v. 50% for other utilities. A.T. & T. is gradually raising its debt ratio, is being goaded to borrow even more by critics who point out that the interest on debts would be less expensive than dividends paid to stockholders. The FCC, in upholding the 8% rate of return that A.T. & T. insists on, could conceivably, for the first time, demand a voice in regulating the company...