Word: citibank
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...Wilson, chairman of Boeing: "We're betting on the downside. If we bet on a fast recovery and it didn't happen, we could be in real trouble." Even Walter Wriston, the eternally optimistic head of the Business Council and chairman of New York's Citibank, tempered his upbeat remarks with ominous words: "We've had some big bankruptcies already, and I think there'll be more...
...double-edged sword. Students were baffled earlier this year when it seemed as if the Corporation was trying to go back on the University's ban on doing business with banks which lend money to the South African government after it had sold $50 millions worth of certificates in Citibank which had made an ostensibly humanitarian loan to the apartheid regime...
...Valelly notes. "The whole Citibank issue showed to me they had no respect for precedent Kenneth Propp. a third-year law student and, former member for the ACSR, adds that citing precedent is an"unjustifiable tactic" by the Corporation because it serves as a pretext for covering up serious disagreements with the ACSR...
...said a personal plea to the University Treasurer from a Black South African leader played a role in the Corporation's decision. According to Bok, a man identified only as Dr. Motlana, a member of the Soweto Committee of 10, urged George Putnam '49 to approve a controversial 1979 Citibank loan...
...loan was eventually approved, but because it violated the blanket ban imposed after student protest in 1978, the University sold its more than $50 million in Citibank notes and certificates...