Word: buying
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Dates: during 1960-1969
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...plenty has not necessarily been good for the Common Market's 11 million farmers. Blessed by good crops and improved farming techniques, they have accumulated huge surpluses of agricultural products, and are swamped by tomatoes, cauliflowers, apples, plums and pears. In Germany alone, the government has had to buy and store some 80,000 tons of surplus butter, which is now known as the Butterberg (butter mountain...
...schnapps. Germany's Butterberg problem is even more serious. Nearly 30% of the profits of German farming comes from milk products. Common Market regulations allow the government to support the price of butter at the 75-cents-a-pound level. This means in effect that the dairy must buy all the milk a farmer delivers, then pass on the surplus butter to the government stockpile at the minimum price. Such assurances have made the German farmer even more attached to his cow. Fed now with enriched fodder, notably U.S. soybeans, German cows have been producing record quantities of milk...
...rundown, controlled buildings. By owners' estimates, some 12,000 buildings containing 350,000 apartments have thus been left to rot in the past few years. Landlords are so upset at the shrinkage of their profits that last week eight organizations representing 25,000 owners begged the city to buy their buildings at "bargain-basement prices." Said Leon A. Katz, spokesman for the group: "Business is so bad that we want to get out. We're absolutely desperate...
...amounted to $15 million and yielded nearly $1,000,000 in fees and commissions. He caters to a solvent and not exactly saddle-sore clientele (among past and present customers: Banker Robert Lehman, Comedian Jack Benny, Actress Joan Fontaine). For would-be instant cattlemen, Oppenheimer will assemble a herd, buy a spread, hire a manager and oversee the whole operation. "Real crapshooters," as Oppenheimer calls clients who are able and willing to win or lose as much as 50% on their money in a single year, can go for so-called "feeder contracts." For a down payment...
Safer and more strategically appealing are "breeding" contracts. "This," he says, "is where the tax play is." Taking advantage of laws that encourage the building of bigger and better herds, an Oppenheimer client can buy a 100-head breeding herd for as little...