Word: cash
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Dates: during 1950-1959
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Fundamentally lacking in cash...
Massachusetts. Democrat Foster Furcolo shocked his tradition-bound state by banning the usual inauguration ball, holding not one but three swearing-in ceremonies, in which he eschewed customary platitudes and struck at Massachusetts' cash situation (needed to meet current costs: $25 million in new revenue). Further cause for alarm among the old regulars: plenty of Furcolo affability, no Furcolo promises...
There is a story told in Madrid about the time General Franco entered a jewelry store to buy a diamond necklace for his daughter Carmencita and found himself without the necessary cash. "But I am Franco, head of the Spanish state!" he said. "Then, naturally, you have identity papers," replied the skeptical storekeeper. But Franco had come without identity papers. "Then, perhaps you could give us some other proof," said the shopkeeper. "For example, the celebrated bullfighter Dominguin was here last week in the same predicament, and when we asked him for proof, he took a cape and made...
Whittling the Inventory. What was happening was less a falling off of demand than a change in buying habits. With steel production at the fastest rate in history and no worry about a steel strike, buyers are not tying up their cash in inventory, as they did last year. They are buying closer to production schedules, demanding immediate delivery. Chrysler, for example, is still whittling down its steel leftovers from disappointing 1956, plans to step up buying...
...inwardly frantic, he became the master forger of the age when, in 1931. in the inner fastnesses of his regal headquarters at the Match Palace in Stockholm, he forged with his own hand $143 million in Italian government bonds. By now, Kreuger's Depression-gored empire was bleeding cash too fast to be saved by bogus credit plasma. A sprinkling of embarrassing questions began. As they sat in the Hotel du Rhin waiting to hear his answers. Ivar Kreuger fobbed off his creditors with one final, non-negotiable note: "Goodbye now and thanks...