Word: cash
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Dates: during 1960-1969
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...overran Portsmouth, his home town, to greet him. Unlike Chichester, Rose had no commercial sponsor. From the moment, five years ago, when he hauled the dilapidated Lively Lady off a mudbank and started to fit her out for the rough 50-week sail, determination counted far more heavily than cash in his achievement. "It makes you feel rather humble," said Alec, "that everybody wants to congratulate you, and makes you feel that you have achieved something, when actually you know in your own heart that you have really achieved nothing, except that which you have set your mind...
Sometimes a collection can be awfully handy. Winston and CeeZee Guest discovered that last fall when they were temporarily strapped for cash (not that I understand how that happened to them). Anyway, they got $812,275 for their Chinese porcelains and French antiques at Parke-Bernet, instead of the mere $500,000 they had counted on. Jewels are more durable than porcelain, but they're easily heisted; Sonny and Marylou Whitney got robbed of $780,000 worth at Saratoga a year ago, and their insurance premiums must be ferocious. Coins can be better guarded, but someone recently stole Willis...
...close West Germany's banks and deal no more in grotesquely inflated reichsmarks (1,000 for a carton of U.S. cigarettes). As economic boss of occupied West Germany, Erhard courageously exchanged only 6½ Deutsche marks for every 100 of the old marks, thus wiping out the cash savings of most of his countrymen for the second time in a generation.* A laissez-faire economist, Erhard followed currency reform by abolishing price controls and rationing. "The only chance I had," said Erhard, "was that people were telling themselves: 'Our situation is so desperate that this crazy man should...
...nation's biggest finance companies, Baltimore's Commercial Credit Co. (assets: $3.3 billion) generates the kind of cash flow that businessmen dream about. That, together with the fact that its management owns less than 1% of the company's stock, has made it a prime target for takeover. When Manhattan-based Loew's Theaters Inc. undertook to win control of the company with a tender offer to shareholders last month, Commercial Credit's board decided that it would much prefer a partner of its own choosing. Last week it moved to sidestep Loew...
...hold special advantages for Control Data. One of the fastest-growing computer concerns, it registered earnings during fiscal 1967 of $8.4 million on revenues of $245 million, and is running far ahead of that pace so far in 1968. President William C. Norris has had to scramble for the cash to keep the expansion going. Commercial Credit's resources should help Norris increase computer sales abroad, also provide the financing his company needs to strengthen its position in the competitive -and lucrative-leasing field...