Word: discounted
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Dates: during 1960-1969
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Economics Minister Schiller has made frantic efforts to revive plant expansion, but industry, with a quarter of its capacity idle, is fearful. The Bundesbank only reluctantly, and by timid ½% stages, cut its discount rate from 5% to 3%, the lowest in Europe except for Switzerland and Portugal. In the first five months of this year, industrial production slipped 5.3%, consumer goods output 9%, construction 13%. The number of unemployed in February rose fivefold from its 1966 low, to 674,000, or 3.1% of the work force, very high by German standards...
...returns-even if they were bought at another store. Once, for example, Rich's exchanged hundreds of pairs of defective nylons of a brand it did not stock. A clerk at a rival store, according to a popular Atlanta story, was arrested for buying merchandise on an employee discount and exchanging it at Rich's at full price. A bride's mother who complained that a Rich's wedding cake came with yellow layers instead of the white she had ordered got another cake, even though her guests had already consumed the first. Not surprisingly, Rich...
...Matisse, unloading them on five other collectors and seven dealers for $165,800. Among those who bought from Stein were Colonel Edgar Garbisch, a leading collector of American primitives, who paid $14,000 for an unpretentious little Picasso for his wife's dressing room, and the E.J. Korvette discount chain...
...fighting in Szechwan was only the most prominent of Mao's troubles last week, as spelled out in the big-character graffiti of wall posters. China-watchers did not believe all the vivid writing on the walls, but even at a discount the poster accounts added up to widespread turmoil. Some 35,000 autoworkers in Manchuria were said to have wrecked eight schools used by the Maoists as bases. The posters described clashes in Peking and Shanghai, claimed that fighting took place in Shantung in east China, in northwestern Sinkiang, the site of China's nuclear installations...
...charge 30% to 100% interest, the Milan-based Banca d'America e d'ltalia, a subsidiary of the U.S. Bank of America, set up a small-loan program late in 1965. Its slogan: "Anyone who works can have credit." The cost of that credit is only 6% discount a year. And where loan sharks demand heavy collateral, the bank, for its one-year loans of up to $1,600, asks only for proof that the borrower is on a regular payroll...