Word: buildering
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Subsidizing the Mortgage. To spur sales of houses, developers in Southern California, Texas and Michigan have adopted gimmicks that temporarily reduce mortgage rates and thus cut monthly payments of buyers. At the new town of Valencia outside of Los Angeles, Builder Don Bren sold $1,000,000 worth of homes in three weeks; for three years, his customers will pay only 6% interest on their mortgages, instead of the 8½% to 9¼% rate prevailing in the area. After the three years, the owners must refinance the loan. The refinancing could involve lower interest rates than at present...
...vantage point. In addition to the two-wheel drive, Chance plans to add a lighter boom partly made of a new space-age material called carbon-fiber. HERITAGE is the first 12-meter designed, constructed, sponsored and skippered by one man. He is Charles Morgan Jr., a Florida yacht-builder and an experienced ocean racer. Though his do-it-yourself venture extends to cutting his own sails, he likes to call his 62-ft. 6-in. sloop the "people's boat," a reference to the many Floridians, including Boy Scouts and housewives, who have contributed money for her construction...
John A. Volpe must enjoy confounding his critics. A millionaire highway builder and former Republican Governor of Massachusetts, he was expected to pave over America when he became Richard Nixon's Secretary of Transportation. Instead, Volpe has stopped highway projects that would have thrust through park land and destroyed low-income housing and historic buildings. Says he: "We've got to provide a national transportation system with the least possible harm to the environment...
...circus was worth $8,000,000, and Feld bought it, with financing from his brother Israel and Houston Astrodome Builder Roy Hofheinz. The deal, in a publicity stunt worthy of Barnum, was ceremoniously sealed in the center of the Roman Colosseum...
...long as Harkness stays around Ithaca, his reputation as dynasty-builder and Red Wing coach will draw the kind of player Cornell needs to stay on top. And since Harkness will have no "official" capacity at Cornell, he will be free to use whatever measures he needs to recruit that talent. In addition, the man who replaced him. Dick Bertrand, is a walking stereotype of the Harkness player-28 years old, a former Canadian mountie who skated for Cornell last winter, and who was ineligible for the NCAA tournament. Plus ca change, plus cest la meme chose...