Word: cashes
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Dates: during 1970-1979
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...need for an early decision on tuition charges demands this fiscal prescience. Most businesses budget on a "rolling quarterly basis," changing estimates and adjusting prices as they monitor the flow of cash. A university can't change the price of its product in the middle of the year, and so Faculty budget-makers are locked into an annual budget. They have to make crucial financial decisions based on fuzzy guesses about the inflation rate a year and a half from now. "I sit here in September with a budget of $50 million and I have very little control over that...
...masters and French impressionists, including a Rembrandt, a Titian, two Renoirs and three rare Seurats. Benedek said he put up $1.5 million for a half share in the first two deals and more than $1.8 million for a smaller share in the third, both paid partly in cash and partly in credits...
Most freshmen who signed up last year never did cash in on that guaranteed friend because their guides never called them. One-third of the guides never bothered to call all year, according to a survey conducted at the end of last year. Another third of the freshmen did meet their guides, but they had "no warm feelings" connected with the experience, Arthur J. Kyriazis '80-3, chairman of SHS admitted with distinct discomfort...
...Howard D. Johnson, the present chairman's father, who died seven years ago at 75. The business prospered largely on the strength of its butter-rich, multiflavored ice cream (calorie count: 160 for a rounded scoop of chocolate chip). Eager to expand but unable to raise much cash during the Depression, Johnson in the early 1930s became a pioneer in the practice of franchising (though today the company owns some 75% of its restaurants). Later the firm plunged into motor lodges, three-quarters of which are franchised...
...recent CAB study of Air New England found the company's finances and cash flow to be "precarious." Founded in 1970 and controlled by Investors Fairleigh Dickinson Jr. and Robert Kanzler, the Boston-based airline carries some 500,000 passengers annually. It operates at a loss for most of the year but gambles on cashing in during the summer, when traffic triples. Despite federal subsidies of $3.7 million, it lost $2 million on revenues of $21 million in 1978, and does not expect to do much better this year...