Word: borrowings
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Besides the basic social problem of unemployment, the payment of unemployment insurance threatens to empty the coffers of many Frostbelt states. Beginning in 1979, insolvent unemployment programs forced states to borrow funds from the Federal Unemployment Account to pay unemployment insurance benefits. As of July, 1979, twelve Frostbelt states showed loans outstanding totaling $4.9 billion; Pennsylvania alone owed $1.2 billion. In all the south and west, Arkansas, Montana, and the District of Columbia owed only $100.6 million...
...imports. The company was also hit last week by the second lowering in its long-term debt rating this year; Standard & Poor's gave Ford's corporate bonds a simple A, rather than AA, rating. The change will make it much more expensive for the company to borrow the money needed to retool plants for small-car production...
Owner Financing. Thousands of frustrated home buyers are now bypassing the bank and borrowing money directly from the person selling the house. Owners often find that this type of financing is the only way they can sell their houses because so many potential buyers cannot qualify for bank loans. The buyer, for example, might borrow half the needed money from the owner at 8% interest and the rest from a bank...
...walking through a cemetery sees a funeral procession. A hearse with two caskets, then a line of men following this guy with his dog. He asks the guy with the dog, 'What happened?' 'My dog bit my wife and my mother-in-law.' Man asks: 'Can I borrow the dog?' Guy says: 'Get in line...
...been a major Anderson problem. While his campaign has netted nearly $8 million since April 24, it now needs at least another $1 million for a final TV ad drive. Anderson was buoyed last week by a favorable ruling from the Federal Election Commission that his campaign could borrow from banks against the federal funds he will receive if he gets 5% or more of the November vote. The Democratic National Committee had been warning that such loans were illegal, and banks had been holding up Anderson's application. Now his aides expect to announce a successful loan deal...