Word: discount
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Dates: during 1980-1989
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...from different sources are fundamental techniques for keeping down the price of new construction. In South Boston a bricklayers union reduced its overhead on 18 units of moderate- income housing by obtaining a $1.5 million construction loan from a local bank at below prime rate. The reason for the discount: the union agreed to invest $1.5 million of its pension fund in the bank's certificates of deposit. In nearby Somerville, Mass., the nonprofit Somerville Corp. used $484,000 from a 1984 federal Urban Development Action grant to attract more than $2 million in other funding. The money enabled Somerville...
...station?" yelled Harry. He went to the bank to get some emergency cash for a tow truck, only to find the automatic teller machine out of order, again. "Real nice service!" he muttered. Then Harry decided to use a credit card to buy a tool kit at the Cheapo discount store, but he couldn't find anyone to wait on him. "Service! Anyone, please! Help...
...trade-off that they believe most customers will accept: more products in exchange for less personal service. Today's depositors with as little as $500 to invest will find that banks give them more possibilities than ever before. Banks now offer an array of money-management accounts and even discount stock-brokerage service. Banks have vastly improved upon old-time bankers' hours of 9 a.m. to 3 p.m. New York's Citibank boasts that 80% of its depositors use its 24-hour automatic-teller machines and that more than half of all customers say they no longer need to venture...
...American business had better deliver the real thing, because shoppers like Arlene Cantlon of Riverdale, Ill., are starting to make a scene. Cantlon lost her temper recently in a Venture Stores discount outlet because the chain was making a habit, in her opinion, of failing to have advertised goods in stock. "I asked to speak to the salesgirl in the shoe department, but nobody knew where she was. I waited 35 minutes while they looked for her. Nobody could find her, so I asked to see the store manager. At this point, I had a crowd of customers cheering...
West Germany's central bank responded to the turbulence with a cut in the discount rate, from 3.5% to 3%. The largely symbolic gesture was intended to mollify U.S. Treasury Secretary James Baker and other American officials who have called for West Germany to expand its economy as a way to sop up more U.S. imports and, along with them, some of the red ink in the $170 billion U.S. foreign trade deficit. Japan was said to be ready to make a similar move, but before that, Japanese Finance Minister Kiichi Miyazawa suddenly flew to Washington for a private...