Word: costly
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Dates: during 1960-1969
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...served dinners there almost every weekend which stretched the limits of gourmet excess. Cases of incredible wines were flown in from France. And the entire interior was fixed up to greater-than-Hearst elegance, including the repair of the rare delphic tiles that cover the walls downstairs, at a cost of about...
...rationing loans to regulars. Some are cutting off finance companies and mortgage-banking firms and generally refusing loans to finance corporate takeovers. The pressure is strongest on banks in the East and on the West Coast because they deal with many large corporations that need money to expand. The cost of borrowing, already at a 40-year peak, continues to rise. Bankers have stepped up their prime rate four times in the past six months, to an alltime high 7½%, and speculation is widespread that they will soon increase it again. That expectation helped to depress the stock market...
...common cause: the mark is greatly undervalued in comparison with the inflation-weakened moneys of Germany's trading partners. This disparity has turned Germany into a heavily patronized discount store for the rest of the world. By recent estimates of the German Bundesbank, Germany's goods now cost an average of 7½% less than those of its major trading partners. Since the difference is even greater between German and U.S. products, it is hardly surprising that German exports to the U.S. climbed 38% last year. As the world's most successful exporters, the Germans...
Profit has not come so easily to the chains. They have been borrowing at high cost to expand and diversify into such related businesses as drugstores and retirement communities. Some of the largest chains net only 5% or 6% yearly on investment v. an average of 10% for all of U.S. industry last year. The stocks in several big chains have dropped sharply; Hillhaven and National Health Enterprises are down more than 60% from their 1968 highs...
Moral Search. Dave, the numbers king, is a forebear of today's black radicals, a sort of "new Negro" whose drive for power and respectability is born of pride, anger and an awareness of his heritage. At best, his racket can bring him power only at the cost of respectability, and even that power is sharply circumscribed...