Word: coppers
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Disqualified Buyers. On top of all that, builders are being hit by rising prices of such items as copper pipe, aluminum windows, lumber and plywood and, in some areas, by shortages of construction labor. The resulting cost increases, as well as higher interest rates, will disqualify some prospective home buyers because FHA will require proportionately higher incomes to meet the higher monthly payments. Six months ago, Miami Builder Ken Laurence was selling a $12,500 model with a total monthly payment of $74, including taxes and insurance; last week, with the interest tab up ½% and maximum FHA terms sliced...
Spread across the country by chain and variety stores, the crosses are now being made of copper, wood, enamel and silver plate, and are being sold by such quality stores as Manhattan's Bergdorf Goodman and B. Altman. Largest manufacturer is Rhode Island's Ronnie Jewelry, Inc., which is now turning out some 24,000 crosses a day, calls them "the hottest single novelty item in years...
...surveying and likely to win some multimillion-dollar construction contracts in the Mekong River development project in Viet Nam, Thailand, Laos and Cambodia. Throughout Southeast Asia, Japanese businessmen and local entrepreneurs have set up 35 joint companies, including steel mills, auto-assembly plants, transistor-radio factories and big iron, copper, bauxite and nickel mines...
FRAP was obviously working along the guidelines of the recent Tri-Continental Conference in Havana, which recommended stepped-up labor trouble as a means to Red takeover. Since January, strikes in the Chilean copper mines have cost Frei's government $60 million, and the mild-mannered President got tough. Going before the nation on radio and television, he angrily declared that FRAP was out to "economically paralyze the nation. We are witnessing a premeditated act of subversion...
Still, Frei has been unable during his 17-month tour in office to translate his 53% electoral mandate into significant reforms. Though his Christian Democrats dominate the House of Deputies, FRAP-in combination with the Radicals-holds the upper hand in the Senate and has emasculated Frei's copper program. This scheme aims to make Chile the world's No. 1 copper producer and earn an additional $300 million in foreign exchange to finance Frei's sweeping proposals for land reform-which themselves are stymied in the legislature. Heartened by a recent by-election victory in Valparaiso...