Word: businessese
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Dates: during 1960-1969
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Originally, the co-ops were small, neighborhood associations set up to improve farmers' competitive position by pooling their marketing and purchasing power. When Congress in 1909 imposed the first peacetime corporate income tax of 1%, co-ops were held to be exempt as "agricultural or horticultural organizations." There were...
Virtually excused from taxation, the co-ops expanded enormously. The Farmers Union Grain Terminal Association of St. Paul, founded in 1938 with only $30,000 in capital, today has a net worth of more than $40 million, largely finances the powerful Farmers Union, which runs the propaganda machine behind the...
Walter E. (for nothing) Heller _ is a grey-thatched, cigar-puffing financier whose business is taking risks that no prudent banker would consider. As head of Chicago's Walter E. Heller & Co., the largest independent U.S. commercial finance firm, he has helped finance the birth and growth of more...
12% Interest. Shrewd, autocratic Walter Heller is the leader in a fast-growing type of commercial financing that only in recent years has become completely respectable. When banks lend money to firms, they do so on the basis of assets and good credit standing, a yardstick that often rules out...
Heller can do this because he has a vast knowledge about most businesses, is back-stopped by a staff of experts. Four hundred strong, they breathe gently down a borrower's neck, go over his books thoroughly three or four times a year, shoot out a barrage of advice...