Word: cashes
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Dates: during 1980-1989
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Taking a cue from Corporate America, more and more people these days are shopping for cars the same way that Inkley did. For decades automobile leasing has been popular among firms anxious to protect their cash flow and capital from the kind of rapid depreciation that car-fleet ownership entails. Now individual consumers are taking up the same practice for roughly similar reasons. Last year, according to the American Automotive Leasing Association (A.A.L.A.), a lobbying group, individual customers leased nearly 2 million of the 11.4 million new cars delivered in the U.S., a record. That 17% market share compares with...
When presented with cash -- she prefers checks, not wanting much cash on hand -- she will fish around in her jeans and come up with some wadded-up change. "Uh," said a flustered Midwesterner one recent afternoon, "you mind ironing this money...
Those who have come back with cash are spending it freely. Gossipmongers say that the local bank has recently changed as much as $40,000 to pesos in a single two-hour period. One beneficiary of the windfall is the telephone company. Residents boast that they make the highest per capita number of international phone calls in Mexico. Almost all are to the U.S. There has been a shift in culinary habits as well. Rafael Tema Chavez, who runs the Licha restaurant when he is not at his second job as principal of the town's grade school, has recently...
...frantic support operation was going on in Washington last week, but it may not be enough to prop up a large part of the $1.1 trillion U.S. thrift industry. By a 402-to-6 vote, the House of Representatives approved a $5 billion cash infusion for the Federal Savings and Loan Insurance Corporation, backstop for the country's 3,200 federally insured savings and loan associations. That would almost, but not quite, bring the FSLIC back to being merely broke; last year the fund was $6 billion in the red by normal accounting methods. Normal accounting, however, has long since...
...astonishingly, U.S. legislators have been helping keep the red ink flowing. Reason: Congress has withheld from the FSLIC the amounts of cash needed to pay off the depositors of the insolvent S and Ls and thus wind down the problem once and for all. Though the FSLIC has shut down, merged or taken over 108 institutions since the beginning of 1986, the agency has had to allow some of the sickliest thrifts to stay in business through the device of lenient accounting practices. Complains William Black, deputy director of the FSLIC: "We are the only shop that keeps insolvent institutions...