Word: borrowings
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...compound rate of 7.9% each year since 1940. The industry still made a profit of 6.3% on its sales last year (an even better 8.7% for U.S. Steel), but Blough argues that profits still fall far short of the cash needed for expansion. U.S. Steel alone had to borrow $600 million in the last five years. As for inflation, Blough considers congressional suggestions of wage and price controls "sheer nonsense." Nor does he agree with McDonald's argument that the best way to fight inflation is to cut prices, starting with steel. He cites the fact that U.S. Steel...
...think the United States can afford the loss of one rivet." Then he moved on, admiring the cut of a worker's quilted nylon and Fiberglas jacket, watching how it zipped. "Very practical. I like the cut," he grinned. "We must get the pattern-or, if not, borrow this...
Under the current system, reserve books circulate for use outside the library only after 9 p.m. Too often, the library staff feels, students borrow these books early in the morning and hide them somewhere in the stacks during the day to be sure of having a book overnight...
...even though economists and businessmen worry that raising the rate would cause a general rise in long-term rates and tighten money enough to choke off gains in business. Finding a solution to the Treasury's problems cannot wait much longer. In July the Treasury will have to borrow additional billions. A sudden sharp contraction in the stock market might conceivably cause a shift back into bonds, but nobody regards that as a real solution...
...also among us. They can be read, or rather looked through, in about a half hour apiece, and this is pretty quick considering that Passionella retails for $1.75 in paperback. But there is not much else to do except to plunk down even these enormous sums, unless you can borrow, steal, or arrange to be given the books, because Mr. Feiffer is a deft, knowledgeable and brilliantly witty cartoonist, satirist, and "observer," as they say, "of the contemporary scene...