Word: businessmen
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Dates: during 1950-1959
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...Argentine people were prepared for the worst when President Pedro Aramburu and Finance Minister Roberto Verrier went on the air last week-and the worst is just what they got. In blunt introductory remarks, the President lambasted both "egotistical businessmen" and workers who believe "that the supreme social achievement is well-paid laziness." Then he turned the microphone over to Economist Verrier, who told the story in terms of pesos. Argentina, according to the minister's figures, is consuming and featherbedding its way to 'bankruptcy...
Though some businessmen worried about deflation, the enemy, on the record, is still inflation. In February, for the sixth straight month, reported the Bureau of Labor Statistics, the cost of living jumped another notch, rose .4% to a new record of 118.7 on the 1947-49 average, 3.6% higher than February of 1956. Except for clothing, every major group of consumer goods was more costly, with food prices up .7% for the month to a Ievel 4.4% higher than at the same time last year. Will the rise continue? Said Labor Statistics Commissioner Ewan Clague: no one can tell "because...
Despite some doubts over the immediate outlook, businessmen were making only slight changes in expansion plans. After first predicting an 8% increase in new plant and equipment spending in 1957, the Securities and Exchange Commission and the Commerce Department took another reading and revised the figures. The amended totals would probably hit $37.5 billion, an increase of 64% instead of 8%. Even so, it would still be the greatest outpouring of expansion money in history...
...giants are only a fraction of the Pru's business. At President Shanks's direction, the company pours an even bigger chunk of its treasure into mortgages and loans to individuals and small businessmen. All told, $6.1 billion of the Pru's assets, some 46%, is tied up in mortgages and real estate, proportionately more than any other life insurance company. The Pru is the world's biggest private holder of home mortgages (500,000), one of the biggest financers of huge skyscrapers (Manhattan's Empire State Building, Chicago's Merchandise Mart, Cincinnati...
...does the Pru stop there. The apple of President Shanks's eye is a new Commercial and Industrial Loan Department, set up to make funds available to small businessmen who ordinarily cannot get long-term loans through normal bank channels. "What we're looking for," says one Prudential executive, "is the nice little company making a nice little product in Bucyrus, Ohio." The Pru has found plenty of them. Among the loans: $200,000 to help reforest a Florida tree farm, $750,000 to a Nashville religious-book company, $54,000 to Kansas City's Papec Machine...