Word: cash
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Dates: during 1960-1969
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...Cash Backing. The United Presbyterian Church, whose membership of 3,277,787 is less than 5% Negro, has traditionally been opposed to racial segregation. This year the commissioners, as one of them said, "put their money where their mouth is." They unanimously voted to set up a commission on religion and race, with a first-year budget of $500,000. It will work with other denominations in stamping out segregation in churches, assist individual ministers in combatting prejudice among parishioners. The assembly's stand on race, exulted the Rev. Edler Hawkins, a Negro and pastor of St. Augustine...
...changing his habits. He has usually spent about 92% of what he took home and banked the rest. Now he is saving less but enjoying it more. This year he is spending at least 94% of his income-or $8 billion more at an annual rate-and sending cash registers ringing to new records...
This is a fine year to be a farm-equipment maker. Good crops, good weather and a record cash farm income of $37.5 billion in 1962 have sent the farmer on a buying spree, to the benefit of the $2 billion farm-equipment industry. Deere's domestic sales, which reached $541.5 million last year, are already up 25% for 1963's first fiscal half, and are expected to top $600 million for the year; first half earnings are 59% higher than last year. Deere's 24 factories and 30,000 employees make some 300 different machines, plus...
...horrors, lost several million dollars last year. His scheme for selling his hotels and leasing them back has backfired because of falling occupancy rates and higher costs. The softening real estate market has forced him to defer many of his plans to sell off Webb & Knapp buildings to raise cash. And, to top it all off, the New York Stock Exchange finally turned down the two-block site near Wall Street that Zeckendorf had proposed for its new home, decided on another instead. All told, Webb & Knapp last year lost...
...staff to 500, is converting his business from handwritten, single-entry ledgers to computers, has trained a corps of crack salesmen and sent his technicians off to Beirut, England and the U.S. for training. Handling dealerships for such companies as Chrysler, Kaiser Jeep, Gulf Oil, Philco, Whirlpool and National Cash Register, Bader has ridden on Kuwait's boom. Last year his sales included 1,000 cars, 4,000 air conditioners (the Kuwait temperature goes up to 125°), three jet planes, and $600,000 worth of N.C.R. equipment. He is building two apartment projects and starting Kuwait...