Word: borrowings
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...done it," he says, with pride. "If you recall where we were?no credit, the seasonal loans were running out. Nobody thought we would get the federal loan guarantees we had to have. Not Felix certainly. [Felix Rohatyn, chairman of the Municipal Assistance Corporation created in 1975 to borrow for the city, and New York's chief financial strategist.] I want to give full credit to Felix for his brilliant conception of what had to be done. But I take a lot of credit for getting it done...
...World goods, the industrialized nations deny foreign exchange to the developing nations, thereby shrinking their own export markets and destroying more jobs at home than they would save through protectionism. Meantime, investment in new plants is retarded and Third World debtor governments-whose creditworthiness depends on export earnings-must borrow more deeply to pay their debts...
...Army and Air Force distribute Blackfeet wares in their PXs worldwide. With sales last year of $5.1 million, the company earned a net profit of $175,000. The business supports 100 jobs on a reservation where unemployment still hovers near 50%, and Chairman Old Person confidently plans to borrow more money to expand the factory. Says he: "We have built pride where there was none." And that makes the bottom line of the Blackfeet Indian Writing Co. look healthy indeed...
...this irrevocable process of change. Author William Wharton creates a middle-aged hero who must simultaneously witness the rapid decline of his father and the growing independence of his own son. This summary may scare off droves of readers. Living through such an experience is bad enough; why borrow trouble by vicariously sharing someone else's? But Dad is more than a chronicle of pain and dissolution. It shows how stories that began with love can end that...
Nonetheless the prime rate remains the bench mark by which most people measure the cost of credit. But a new report by the House Banking, Finance and Urban Affairs Committee suggests that the once sacrosanct prime has become almost meaningless as a guide to what most borrowers-big or little -actually pay. The report, which mainly addresses the prime rate's application to business borrowing, found that it rarely applies to large, profitable corporations. They can usually borrow money at three to four points below prime, a discount reflecting the importance of the volume of their business with their...