Word: debt
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Dates: during 1950-1959
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...hard-driving leadership was more than enough for the job. Unlike other war-stricken Italian firms, Snia Viscosa never took a penny in American aid. Marinotti sold the company's skyscraper headquarters in Milan, converted other negotiable assets into cash, trimmed payrolls and expenses. Without going into debt or accepting government handouts, Snia Viscosa was producing 55,000 tons of fiber annually by 1947 (present production: 135,000 tons annually). But with productive capacity vastly greater than Italy's consumer market, Snia Viscosa had to export or topple of its own weight...
...mother of six children, whose combined doctor bills have been at times astronomical, I find the Hoopers' performance inexcusable. To me, a doctor's bill is a debt that is paid not only in money, but in gratitude that cannot be measured...
...Secretary Humphrey has failed to make much headway toward one of his primary goals in 1953; this was to stretch out and stabilize the debt by transferring much of it from short-term into long-term securities. Not only would such a transfer help combat inflation by sopping up credit, it would also make the Treasury's debt management job much simpler by cutting down on refinancing operations...
With some 68% (about $185 billion) of the total U.S. national debt due for refinancing within the next five years, the problem will get worse unless something is done soon. Many bankers argue that the Treasury should have moved much faster to keep U.S. Government securities rates in line with the overall money market. By hiking rates a fraction at a time, always too little too late, Secretary Humphrey has, in effect, guaranteed the failure of long-term issues. He has also increased the margin between Government and corporate bonds instead of narrowing it. On a straight interest basis, Government...
...National Steel's boss. Weir set out to finance its lively ambitions. "I wanted $40 million at a time when that money looked like the national debt. I got it, not from Wall Street, but from Main Street." Instead of turning, like other steelmen, to J.P. Morgan & Co., Weir sold bonds to the public. With new equipment, Weir operated on a stubbornly independent policy of "no order too little, none too big." He supplied Detroit automakers on a booming scale that yielded National Steel a profit during every Depression year, made it the only U.S. steel company...