Word: emptor
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Dates: during 1960-1969
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Slogans Sell. At 33, the gaunt, olive-skinned attorney (Harvard Law, '58) is a new kind of lobbyist on the Washington legislative scene. As chief caveat caller to Emptor Americanus, he has no constituency but the American consumer, no financial backing beyond what he can generate from lectures and writing (his auto-safety book, Unsafe at Any Speed, sold 450,000 hard-cover and paperback copies, earned him $55,000). Nader's success is largely due to his unerring flair for phrasemaking, backed by diligent research. A self-taught speed reader, he flips through thousands of pages...
When it comes to consumer credit, the rule applied by many a department store, used-car dealer and friendly finance company is caveat emptor. Yet in an economy where outstanding credit totals $92.5 billion-at an annual cost of $12.5 billion in interest-the wary buyer or borrower is rare. Some of the interest rates charged-and paid -in the U.S. would scandalize Shylock. A Manhattan woman bought a $300 sofa that actually cost her $624 after two years of installment payments with interest of 108%. A Jersey City man ended up paying $420 for a TV set priced...
Next, $10 Million? At $3,861 per sq. in., Simon was simply playing caveat emptor according to the rules. The prince, currently hard pressed for cash following several unsuccessful business ventures, agreed-but he was in no mood to let his treasure cross his principality's boundaries or risk an adverse verdict. When negotiations broke down, the prince's art dealer, Josef Farago, issued a categorical denial: "The prince would not dream of selling the Leonardo." As for the prince, he was, as one to the manner born, off hunting in Austria. Does this mean that Ginevra...
...Caveat Emptor. The tax angle has also heightened the appeal of shares in oil wells, which enable the investor to claim the 27½% depletion allowance and write off the expenses of drilling and operating the wells. There is speculation in money itself: the growth of coin collecting in recent years has nudged the value of uncirculated coins up as much as 70% a year. Diamonds, long a solid investment, are attracting more investors than ever; prices of small stones have risen 7% in the last year. Another longtime investment area, commodities futures, is winning new enthusiasts. For as little...
...such cases the old rule of caveat emptor especially prevails. The offbeat plunger can make a big splash if he is lucky; he can also quickly go under. Bankers and investment houses usually shy away from such unusual and high-risk opportunities, but potential investors seldom have trouble hearing about them. Word travels rapidly through accountants, special brokers, newspaper advertisements, relatives or neighbors who want to let someone in on a good thing-they hope...