Word: credited
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Dates: during 1960-1969
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...bill requires creditors to tell prospective borrowers the true rate of interest they must pay and the dollars-and-cents cost of the loan as well. The House strengthened it by requiring department stores and mail-order houses that offer "revolving credit" to list the interest charges as 18% a year instead of the more innocuous-looking 1½% a month. Mortgages were also affected; lenders will now have to specify, in dol lars and cents, how much such long-term charges as interest will cost the buyer (a 25-year, 6% mortgage on a $20,000 house, for example...
Contrary to common belief, the market is not enthusiastic about inflation because it tends to erode real profits and bring tight money and Government controls. The market hates the thought of controls on credit, wages and prices. More than anything else, the market abhors uncertainty, even though it is risk, speculation and uncertainty that make markets...
...Credit goes to former Air Canada Sales Promotion Manager Lawrence J. Adams, 50, who took the reins of the company in 1958, when it had a single rental location-which was losing money. Within four months, Adams had picked up $2,000,000 worth of property across Canada to build a network of parking lots, rental depots and garages. By 1962, the company was breaking even. In 1963 it bought an Edmonton real estate firm that became a subsidiary called Avord Holdings Ltd. Since then, Avord has built hotels and office and apartment buildings in Canada's major cities...
Screened Risks. That combination has proved so enticing to savings and loan associations, the largest single source of housing credit, that last year they did twice as much business with M.G.I.C. ($860 million) as with the FHA. Unlike the FHA, the Milwaukee firm relies on its 4,500 lender-customers to appraise the value of property it insures, screens out bad risks by spot checks. The company concentrates on loans for city and suburban one-family homes, generally insists on at least a 10% down payment. As a result, its foreclosure rate runs about half that of the FHA, which...
Gilbarg said that Noam Chomsky, professor of Modern Languages at M.I.T., who teaches a course on "Intellectuals and Social Change" has agreed to sponsor "Critiques" so that students enrolled will be able to get course credit...