Word: buyer
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Hopes for its survival were hardly raised when the only prospective buyer, flamboyant Australian Publisher Rupert Murdoch, declared the condition of his purchase: the paper's eleven unions would have to give up 180 of the Herald's 800 jobs to save $4 million a year. Nonetheless, the sale went through, five hours after Hearst suspended publication and sent employees home. The settlement, after 30 consecutive hours of bargaining, closed a week of allegations by Hearst executives that the Globe was trying to sabotage union negotiations. Crowed the Herald on its front page Saturday morning...
That means that after a certain period of time--which depends on the type of bond bought--a buyer is allowed to have the bond prematurely redeemed, at a price equal to the principal and interest thus accrued, and the University is allowed to change the rate of interest it pays out on the issue. "Both the seller and buyer are protected against change's in interest rate," explained Putnum, pointing out that with the uncertain nature of interest rates, investors are increasingly unwilling "to stick their necks out to buy bonds...
...look hard enough, you can find every conceivable type of holiday item in the shop. But while browsing, let the buyer beware. Step on one section of carpet in the corner of the candle room, and you'll trigger a whole manger scene--complete with music, lights, hay, and even a flying angel--on one side of the room. A lifesize model child sleeps in a bed in the middle of one room, and in another corner, the likeness of Santa himself snoozes in his rocker...
Blacks in jobs with more responsibility also find their way to the top blocked by what they consider lingering prejudice. In 1970 Milton Johnson was promoted to senior buyer of a $35 million line of children's sportswear at J.C. Penney Co., one of five blacks with such a job. Twelve years later, there are still five black senior buyers. Johnson, 43, who makes more than $50,000 a year, is disenchanted. He wishes he had started his own business rather than worked for a big corporation...
...resolution of the agricultural problem to free-market forces. To boost exports, Agriculture Secretary Block has just announced a three-year $1.5 billion "blended credit" program, in which interest-free Government credits are combined with Government-guaranteed credits from private banks to lower the financing costs for foreign buyers of agricultural commodities. An additional $1 billion in loan guarantees has been provided to Mexico, which is a big buyer of grain but has run into financial problems because of the slump in oil prices. Other agricultural payments and loans have also been boosted. During fiscal 1982, U.S. farmers received...