Word: creditably
(lookup in dictionary)
(lookup stats)
Dates: during 1950-1959
Sort By: most recent first
(reverse)
...charge that also makes him particularly angry is that the recession was brought on by overexpanded credit selling of cars in 1955. "I think there was a coinciding then of two factors," he said. "The economic boom coincided with a freshness and newness of car models not seen for a long time. You had the panorama windshield and other improvements. The dealers got excited about the product. In their excitement they may have overtraded. But the fundamental fact was the business excitement...
Since then he has called in outside experts to help him rewrite some minimum property requirements and credit rules. Next week he plans a conference on new valuation ideas, one aim of which will be to encourage the use of better housing materials with low maintenance cost. Also in the works are new FHA appraisal rules to upgrade housing, plus a trade-in program that will assure interim financing for older houses while they are being exchanged for new ones, and at the same time cut red tape and closing fees to make it almost as easy to trade...
...nation's expense-account economy, nobody is anybody unless he can say "Charge it." Thus, the credit card has risen as a new symbol of status that enables one to rent a plane or boat or car, give parties in nightclubs, even go on a full-blown safari in Africa without putting down a penny. For businessmen it also provides a convenient record of all expenses to show the Internal Revenue Service. Last week the credit-card game provided businessmen with the spectacle of being wooed and fought over by a handful of companies trying to dominate the business...
Full House. While oil companies, hotels and airlines started their own credit cards years ago, the fast-growing new market for a broad new type of card was pioneered in 1950 when Lawyer Ralph E. Schneider, 49, Hollywood and Broadway Producer Alfred Bloomingdale, 42, and the late Frank X. McNamara founded Diners' Club. They built up a roster of 17,000 restaurants, hotels, motels and specialty shops that were glad to pay them a 7% fee for the business of their 750,000 members...
...American Express mailed applications to 8,000,000 depositors-people who obviously have some money to spend. President Ralph T. Reed also sent personal letters to 22,000 corporation presidents. More than 300 American Expressmen started knocking on doors of executive suites all round the U.S. to sell the credit card (charge: $6 per year for initial card, $3 for other members of the same firm). To bolster its membership, American Express bought out the Gourmet Guest Club (membership: 45,000). Diners' fought back by picking up the Esquire Club (100,000 members). Then American Express scored a real...