Word: chasing
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Dates: during 1960-1969
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...biggest role for business may lie in the future, when the U.S. sets out in earnest to reinvigorate its deteriorating urban centers. "In improving our cities,"Chase Manhattan
Weekday mornings at 7:55 a grey Cadillac sedan calls for Gardner at his Chevy Chase, Md., home, and he usually jots down his day's agenda on a lined yellow pad during the 35-minute drive to his office. On Gardner's desk is a copy of an aphorism written in German by an unknown author: "Das Beste is gut genug"-the best is good enough. Behind the desk is a framed photo of the President with the inscription, "Now, John, I mean it. We must cut down on spending...
...motor scooter, Adam transports this burden of anxiety to the library of the British Museum, where he is vetting a doctoral thesis on sentence structure in the modern English novel. But his overcast mood easily distracts him from the academic chase...
...late 1965 to 6% in mid-1966 - equal to an increase of 33% in twelve months. A wave of hedge-borrowing and money hoarding swept the country. Figuring that money would become steadily scarcer and costlier, corporate treasurers borrowed more than they needed. In June, the Chase Manhattan Bank raised interest rates on most consumer loans for the first time since 1959, to 5½% "discounted" (in effect 10½%), and other banks quickly followed. Bargain-hunting consumers rushed to borrow at 5% on their insurance policies, and insurance executives appealed to banks for new reserves - putting more pressure...
...free issue; Baltimore, Louisville, Tulsa and Arlington, Va., canceled others. So queasy and depressed was the bond market that several corporations called off bond issues. Moneymen tossed in their sleep, worrying that if companies could get money no other way, they would begin wholesale withdrawals from banks. Says Chase Manhattan President David Rockefeller, 51: "This was certainly the most difficult period of my career...