Word: cash
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Dates: during 1960-1969
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...reported their income and paid part of their tax, the Internal Revenue Service does not take them to court. It attaches their bank accounts or other assets to recover the rest of the tax, plus a penalty of 6% a year. With this in mind, some pacifists keep enough cash in their checking accounts to save themselves and the IRS a lot of trouble...
...looked like a suicidal venture. Many insured loans, notably those on apartments and unsold new homes, proved to be overly speculative; more important, M.G.I.C. was not yet insisting-as it now does-on writing all policies with an option permitting it to pay only 20% of a claim in cash while leaving the mortgage lender to take over foreclosed property. Allowed initially to operate only in Wisconsin, Illinois and Minnesota, M.G.I.C. lost $64,000 in its first year. In 1959, Karl shrewdly tied his fortunes to those of S & Ls, which had just won authority to make loans...
...yawp of an overture. He left only four novels, two of them posthumous, all of them painfully hacked out of his vast scrawlings by his editors. Since he had no ideas, he dealt with none. Politics interested him not at all, and economics could be summed up by comparing cash in hand with what he owed his landlord. He was an undisciplined poet of feelings, of emotions, usually his own and always tortured. Wolfe did leave memorable set pieces (in Look Homeward, Angel the death of his brother, the portrait of his stonecutter father) that have convinced two generations...
Brisk Turnover. Among many cost-cutting techniques, Cantor has installed a centralized-buying operation, in which cash registers at key discount stores keep itemized sales records on tape for processing by a Manhattan computer. When stocks run low on a particular item, the computer automatically reorders it from the manufacturer. Store personnel can thus be freed from time-consuming inventory taking, and shelves are kept supplied for a brisk, six-times-yearly stock turnover, compared with three times for department stores...
...buyer: Manhattan's Commonwealth United Corp., a movie-making (The Pawnbroker) and -distributing company with realty and insurance sidelines. Price: $25.2 million, paid in Commonwealth stock. In an accompanying deal akin to a divorce settlement, Sunasco lined the coffers of money-shy Sunset with $ 1,000,000 in cash and $8.6 million worth of Sunasco stock-chiefly in exchange for Sunset's interest in five California realty ventures...