Word: cash
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Dates: during 1960-1969
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...time when most private colleges are struggling to find the funds just to keep alive, Connecticut's Wesleyan University has a most unusual problem: it has more money than it can spend-and thus has the cash to experiment with projects that can make it a better place to teach and learn...
...contract provides for cost sharing between the Government and the builders on a 90%-10% basis-but only for some expenses. Boeing will actually get only $726 million in cash-on-the-line federal funds. To appease a reluctant Congress, ten U.S. airlines currently holding options on the SST volunteered $1,000,000 in "earnest money" for each of the 52 planes they have ordered. Future "progress payments" from airlines should come to $1.35 billion; tax relief in the development phase will mean another $310 million. In all, by 1975 Boeing will have scraped up a fantastic $1.06 billion...
Greyhound's turn to diversification began in 1962, when Chairman Frederick W. Ackerman, fearing a leveling off of bus travel, began searching for new uses of Greyhound's cash. His first bet became a bonanza. For $14.7 million in stock, Greyhound bought San Francisco's Boothe Leasing Corp., which had been earning $400,000 a year mainly by leasing railroad freight cars and locomotives. Ackerman began buying jetliners-and made money when the credit-shy airlines started cashing in on the jet age. The subsidiary's earnings have zoomed 1,300%, to $6.2 million...
...Common Market 23%, Canada 11%, Britain, Australia and Japan 5% each. Altogether, that aid comes to less than half of the grain the U.S. has been donating annually to such countries as India, Pakistan 'and Brazil. But Europe and Japan will have to buy their share for cash, thus increasing the world commercial market for wheat. Delegates also agreed on a new minimum world price of $1.73 a bushel for hard red winter wheat sold at Gulf Coast ports-23? a bushel above the existing floor, but only about 2? above today's actual market price...
Members of the university community, it seems to me, ought to respond by channeling cash to such groups as the "Committee of Responsibility," 131 State St., Boston. This is a tax-exempt national organization which is bringing some of the more seriously injured Vietnamese children to this country for surgery. Although many of us are convinced that the Vietnam situation calls for much more radical steps than hospital action. I think that all of us ought to be willing at least to do that much. The Rev. H. Paul Santmire Lutheran Chaplain, Harvard-Radcliffe