Word: borrower
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Dates: during 1980-1989
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...Area restaurant business began to dry up. For a while, Me Miller's suppliers delayed payments on his monthly food and laundry bills, but then they began demanding cash on delivery. As his debts grew-eventually to more than $4,000 per month in payments-McMiller tried to borrow his way out of trouble, but no bank would lend. Last August he filed to restructure his debt under the Federal Bankruptcy Act. He has laid off six of his ten employees and leased his restaurant...
...sawmill that shakes the economy of a rural community; the entrepreneur who amasses only red ink in return for risking his capital and decides to play it smart next time and stick his cash in a high-yielding money-market fund; the worthy new enterprise that cannot afford to borrow and expand and therefore loses market share and stagnates, perhaps eventually being driven out of business altogether by some tough and well-heeled foreign competitor from, say, Japan. Says Purdue University Economist William Dunkelberg, a small-business expert: "For every firm that goes bankrupt, there are another...
...actuaries predict that the system will be out of money by 1984. Other experts say it could happen as early as next year. While Congress will certainly not let the system go broke, it may soon be forced to reduce benefits, increase Social Security taxes or borrow from other Government funds...
...improving collections into increased security. The Chicago Public Library, where from 1979 to 1981 thieves took a $2 million bite out of a $120 million collection, is installing a $1.7 million computerized circulation-control system, which will ensure that anyone with an overdue book will not be permitted to borrow further. An electronic device at the University of Pennsylvania has reduced losses by 39% and paid for itself in 38 months. In DeKalb County, Ga., a protection system has cut losses at one high school library from 346 volumes to 22 in two years...
Washington has run deficits in 42 of the past 50 years and has been forced to borrow heavily to bridge the gap between income and outlay. The Government does this by issuing bonds, notes and bills, which are promises to pay money back to investors willing to lend it. In the main, Washington owes the $1 trillion to Americans. Only 14% of the public debt is held by foreigners...