Word: buying
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Dates: during 1970-1979
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...selling at mid-1975 prices. The increasing number of corporate takeover bids suggests how undervalued they are. The Dow industrials are selling at 93% of book value, the worth of the assets minus the liabilities and divided by the number of shares outstanding. Thus it is much cheaper to buy out a company than start a new one. Stock prices are also depressed relative to alternative investments in tangibles. In the twelve months to June, the value of silver rose 63%, gold 55%, old master paintings 22% and housing 14%; meanwhile, the Standard & Poor's composite stock index posted...
McLaughlin's warnings are not totally disinterested, as he is the first to point out. His company also manufactures underground sprinkler systems for suburban lawns and golf courses. Toro stands to benefit if people buy more systems to irrigate with controlled rations of water. But that would be only a tiny part of a comprehensive solution...
Students are taught to do everything as cheaply as possible and to buy only what is necessary. The new builders learn to economize by making their own windows (one-third cheaper than the contractor's price) and by buying lumber direct from the mill (50% less than at a lumber yard). Heating, water and electricity bills can be trimmed by having large windows that face south to the winter sun, and by installing wood-burning stoves, hand pumps and compost toilets. Though conventional housing costs up to $40 per sq. ft., homes constructed along Shelter lines can be built...
...from urban life, more older people are beginning to sign up. Hennin had hoped for a higher proportion of applicants with low incomes, but poor people seem to believe they do not have the time or the money to build a house. Pat disagrees: "Many poor and working people buy a trailer for $18,000, and spend a fortune heating it and patching up the rust. For much less, they could have a solid house, a good investment...
...halting English, the lama told a press conference that Buddhism, particularly the distinctive Tibetan form, has something to offer the materialistic West: "Through centuries, we have acquired some knowledge of mind." He added, in St. Patrick's, that "one of the most important things is compassion. You cannot buy compassion in one of New York's big shops...