Word: borrowings
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Dates: during 1970-1979
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...high level in some Communist countries. Bank of America, Citibank, Chase Manhattan and Manufacturers Hanover all conspicuously took no part in a recent $250 million loan to the Soviet Union's Foreign Trade Bank. Some Western banks are also trying to raise interest rates charged to Communist borrowers. They had been tacking a 1.25-percentage-point premium onto whatever rate they had to pay to borrow funds to relend in Eastern Europe. Now some are demanding a 1.5 premium...
...Considerations. What Kennecott needs to return its copper business to health is the money it put into Peabody. Unfortunately, the only way to recoup the $532 million in a spin-off would be to have Peabody borrow the money. But that would saddle the coal company with such an onerous debt that its future growth would be imperiled...
Other companies may choose to borrow the money for expansion. But even then the investment depends on profit, since lenders will not advance expansion funds to a company that has little prospect of earning money. In the long run, an absence of profit means that a company cannot buy the plant and equipment it needs to remain competitive. The ultimate losers are the workers. Or, in the words of an unexpected defender of the profit system, British Labor Party Prime Minister James Callaghan: "If there are no profits, there will be no jobs...
Seven minutes of commercials each hour is a small price to pay for seeing the Olympics "up close and personal," to borrow ABC'S own phrase. Yet this Olympiad saw many advertisers straining to link their products to the noblest ideals of athletic competition-and at a staggering cost. The result was a kind of electronic jock itch. Schlitz spent $4.5 million to air its effective series of ads. Joe Namath huddled with an assortment of international machos, trying to give the impression that Brut deserved a seat in the United Nations. McDonald's, Burger King and Pizza...
...compromise version of one that was aborted last May. Lockheed failed then to meet Canada's requirement that it come up with $375 million to finance initial tooling costs in Canada. Now, with a Saudi order for three TriStar jets also in hand, Lockheed has managed to borrow the $50 million needed to cover reduced startup costs. The Canadian government accepted a later delivery schedule (the first plane will arrive in May 1980) and less instrumentation on board the aircraft, which in Canada will be called the Aurora. Lockheed also agreed to place with Canadian firms $414.6 million...