Word: fasted
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Dates: during 1970-1979
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...America, every one finds facilities unknown elsewhere for making or increasing his fortune. The spirit of gain is always on the stretch." So wrote Alexis de Tocqueville more than a century ago. Today, Americans are making fortunes as fast and ingeniously as ever. In this week's cover story on the Hot New Rich, we examine how a dozen new millionaires assembled all of these megabucks-and what they are doing with them...
...surge in lending has been spurred by the vast balance of payments surpluses piled up by members of the OPEC oil cartel. In particular, Saudi Arabia, Kuwait and the United Arab Emirates have been unable to spend their new-found wealth fast enough, and they have deposited enormous sums in such major U.S. banks as Citibank, Chase Manhattan, Morgan Guaranty and Bank of America. Triffin reports that "at the end of last year, general monetary liabilities of the U.S.-including foreign deposits in U.S. banks and their overseas branches, as well as Treasury obligations purchased by foreigners -amounted...
Call them seers, diviners, futurists or just plain heads-up smart. The spotters are entrepreneurs of fast mind and slim purse who have, early on, discerned a social trend, a cultural drift or an economic imperative- and made it from noodle to boodle...
Many a road to megabucks is paved with performance clauses, franchising agreements, copyrights, dramatic rights, first serial rights and other fine-print potholes. Thus prudent travelers have for years sought the guidance of an agent. Today the fast-talking cigar chomper of popular cliche has been replaced by a more sophisticated pathfinder, a Sherpa of the subclause who is a combination salesman, packager, legal scholar, investment counselor and spiritual adviser. The archetype is, of course, the legendary Irving ("Swifty") Lazar, still going strong at age 70, whose clients have ranged from Truman Capote to ex-President Richard Nixon...
Last week Avis' status was cloudier than ever. Originally the trouble began because ITT failed to move fast enough to sell its stock; by 1974 it still held about half of the total. At the request of the Justice Department, a court then named a trustee, a New York lawyer named Richard Joyce Smith, and charged him with the responsibility of selling off the rest of the Avis stock. Smith, now 73, began to sound as attached to the stock as his predecessors; for a time he refused to sell any shares, arguing that the price...