Word: cash
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Dates: during 1960-1969
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...extradition-proof Brazil, a posse of creditors tried to corral what was left of the fortune he supposedly amassed as president of the E. L. Bruce hardwood flooring firm. All they got was splinters. The Government hit him with a $3,464,472 tax lien, but there was no cash in his bank accounts. Bruce thought it had a lock on the goodies in his Fifth Avenue flat, but aside from the underwear, not much had been paid for. Most of his $524,635 art collection was out on approval, just like the $734,000 assortment of ice that Cartier...
...young Pennsylvanian who was passing through on his way to study in Rome. "From all accounts," wrote William Allen, "he is like to turn out a very extraordinary person in the painting way, and it is a pity such a genius should be warped for want of a little cash." The faith of Justice Allen-the New World's first important art patron-was justified; for young Benjamin West did indeed turn out to be extraordinary "in the painting way." He was not only, along with John Singleton Copley, one of America's first two major painters...
...caught praising the show. One critic wryly suggested that to give money to the prizewinners was irrelevant, and should be immaterial: a symbolist should receive a symbolic prize, an impressionist should be given the impression of having received a prize, and an abstractionist should get something more abstract than cash. Yet many seasoned observers joined in being critical: the big show was, as far as the exhibitions were concerned, one of the tamest since the first Venice Biennale, in 1895. The great abstractionists had taken their place in history, and there seemed to be little new to generate a comparable...
Most businessmen chorus that capital spending will not rise smartly until profits do, for profits give them the incentive to expand and the cash to do it. Says Raymond Saulnier, who was President Eisenhower's chief economist: "This is the point that must not be overlooked in the dialogue on growth: we cannot get our economy moving as it should be unless we restore some dynamism to business profits." A quick tax cut would do just that by raising consumer demand and lowering business expenses. But so far President Kennedy is sticking to the stand that there will...
...power companies, which will be pressured by the government to spend the cash in southern Italy, plan to continue the diversification that they have foresightedly been undertaking for the past decade. The Edison Group, which is Italy's biggest utility and one of Nenni's favorite punching bags, has already spread into dozens of industries from steel to synthetic fibers. But even the fat compensation promised the companies is scant solace to many Italian businessmen, who fear that this is only the beginning of further government assaults on private enterprise. Cried Alberto Ferioli, deputy secretary of the business...