Word: debt
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Dates: during 1950-1959
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...pumped into the company since 1953, when aging Wonder Boy Paul Smith, now 48, came in from the money-losing San Francisco Chronicle as a $40,000-a-year troubleshooter. Smith raised money and tried to make Collier's a "magazine in depth." Instead, it went deeper into debt. Transformed into a fortnightly in 1953, Collier's lost more than $15 million, while editors and writers struggled to translate Smithology ("We want scope not scoop") into a working policy for the magazine. But Collier's never succeeded in developing a winning personality. In 1953, for the first...
...obligations, or will have them paid off some time during the next year." He noted that 35% to 40% of 1955's new-car buyers paid in cash, and that two out of every three persons who bought new cars in 1955 will have cleaned up their automobile debt...
...Morgan & Co., warned: "Historically, a capital-investment boom such as we are having now has been the culminating phase of the economic cycle. If we keep on accelerating present pressures and loosen our restraints, we will get into maladjustments of production and consumption and excesses of debt-into a spiraling orgy-with the inevitable aftermath of collapse. Yes, the time is here to spend less and save more...
...home last week from Vienna. "They are not poor, fearful, tired people, but people who still believe in a free Hungary to come." Then he added: "These are people who have won a victory, the most momentous victory since World War II. It is we who owe them a debt...
Orderly Action. Help from the heart had paid only part of that debt. Now it was time for more orderly action. Last week President Eisenhower appointed Tracy S. Voorhees, 66, a veteran troubleshooter, former (1949-50) Under Secretary of the Army and onetime U.S. Food Administrator for Occupied Areas, as his personal representative to coordinate work in resettling the Hungarian refugees. Then (after proclaiming a new $5,000,000 Red Cross Hungarian relief drive) the President boosted the number of refugees to be admitted to the U.S. from...