Word: buying
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Dates: during 1960-1969
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Doing Well. This helped explain how Karafin, on an $11,000 Inquirer salary, could wheel around town in a pair of expensive Buicks, live in a house worth $45,000, buy $20,000 worth of furniture, and install such extras as central air conditioning and a custom-built staircase. And deck his wife in furs and jewelry, and vacation in Europe and Puerto Rico, and dabble in the stock market. But it was only part of the explanation. Philadelphia's reporters also discovered that Karafin was doing very well in a public relations sideline of investigative reporting...
Apparently unbothered by the Supreme Court's latest merger ruling, last week the board of Cleveland-based Stouffer Foods Corp. approved Litton Industries' buy-out offer of about $100 million. For Litton, which annually sells over a billion dollars' worth of products ranging from ships to space components, the Stouffer acquisition marks a second venture into consumer goods. The first was The Royal McBee typewriter company, which the sprawling West Coast company picked...
...liquor-store owners. The way to health, said Callaghan, is through increased productivity rather than lower taxes. "If you happen to be an unmarried woman novelist running a liquor store and supporting a widowed mother who does part-time work, with a passion for motorbikes and wanting to buy a house this autumn for ?5,500 then this is your budget," sniffed the Daily Express...
Under such circumstances, the average Briton may not have lost money under freeze and squeeze, but he has not gained much either. Prices are steady; he can cover his needs, visit a pub, even buy such luxuries as a new television set. But sales of autos and houses are slow because money is tight. Few people will vacation abroad this year because of the $140 limit on money that can be taken out of the country...
...obvious loser in this unbusinesslike scheme is Britain's aircraft industry. It is foundering between inefficiency and inordinately high profits. The expense of developing the TSR 2 bomber, for example, became so outlandish that the government instead decided to buy 50 American F-llls. Commercial lines have suffered too; BOAC, after innumerable problems with British-made equipment, put $154 million down on six Boeing 747s...