Word: centralized
(lookup in dictionary)
(lookup stats)
Dates: during 1960-1969
Sort By: most recent first
(reverse)
...tier system has worked well so far, but its future is imperiled by a fundamental defect. When central bankers decided to let the marketplace set the price of gold for speculators, hoarders and industrial users, they also agreed to stop buying and selling the metal except to settle debts among nations. Thus the world's monetary gold stocks were artificially frozen at $40 billion. But nations' appetites for gold have grown stronger, and their trust in paper currencies has become weaker. In the past year, these countries have changed the percentages of gold (as against paper money...
...would put a floor under the gold price by agreeing to buy South Africa's bullion if and when the free-market price ever falls below $35. Continental moneymen are increasingly convinced that the Nixon Administration will accept such a deal. Once again, in 1969, the fraternity of central bankers will probably have to use inspired improvisations to keep the world's monetary mechanism operating...
Talent for Innovation. Boyd and John son are lawyers and longtime friends with a talent for innovation. Johnson came to the Illinois Central in early 1966 after rejuvenating the moribund Railway Express. He increased profits by 41% to $22 million in 1967; profits were still higher last year. Johnson raised the investment in new cars and track and computerized the line's traffic-information operation. At the railroad's Chicago commuter stations, he installed turnstiles that open automatically when a passenger inserts a magnetically coded ticket in a slot. Through a merger now awaiting approval by the Interstate...
...able and dedicated administrator of the $6 billion-a-year Transportation Department. But he was not too adept in dealing with Congress, and that stymied his efforts to bring the Maritime Administration under the department's jurisdiction and to relieve overburdened airports. In Boyd, the Illinois Central may also be getting some trouble; conflict-of-interest questions have been raised about the Department of Transportation's grant of $25.2 million to improve commuter services on the Illinois Central. The grant was made in December while Boyd was under consideration as the railroad's president. Boyd disassociated himself...
...Boyd refused an offer to head the Association of American Railroads and accepted in stead Lyndon Johnson's appointment as the first U.S. Secretary of Transportation. Last week Boyd joined the rail roads after all - under a different Johnson. He took the post of president of the Illinois Central Railroad, succeeding William B. Johnson, 50, who will be come chairman while remaining chief executive. "W.B.J.," as he is known around the railroad's Chicago headquarters, will also continue to head the parent Illinois Central Industries. It is a holding company that owns more than $200 million worth...