Word: firm
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Dates: during 1960-1969
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...single rental location-which was losing money. Within four months, Adams had picked up $2,000,000 worth of property across Canada to build a network of parking lots, rental depots and garages. By 1962, the company was breaking even. In 1963 it bought an Edmonton real estate firm that became a subsidiary called Avord Holdings Ltd. Since then, Avord has built hotels and office and apartment buildings in Canada's major cities. Last fall Avis took over the garage in Montreal's Dominion Square building. One of its tenants-Hertz...
Screened Risks. That combination has proved so enticing to savings and loan associations, the largest single source of housing credit, that last year they did twice as much business with M.G.I.C. ($860 million) as with the FHA. Unlike the FHA, the Milwaukee firm relies on its 4,500 lender-customers to appraise the value of property it insures, screens out bad risks by spot checks. The company concentrates on loans for city and suburban one-family homes, generally insists on at least a 10% down payment. As a result, its foreclosure rate runs about half that of the FHA, which...
...improve its own balance of payments by cutting back on imports on foreign aid, many of these demands will come hard. But there are a few encouraging signs. Before he left, Rostow--the American representative in New Delhi--announced a major change in American policy. After ten years of firm opposition, the U.S. will be willing to accept a system of preference treaties at the conference...
...West German city of Braunschweig owes its reputation to a pair of dissimilar products: smoked liverwurst and Rolleiflex cameras. To the dismay of the 48-year-old family firm of Rollei-Werke, Franke & Heidecke, the cameras have proved the more perishable of the two. Although Rollei's famed twin-lens reflex practically revolutionized photography when it was introduced in 1929, business began to go stale in the late '50s when its patents ran out, cheap imitations rolled in, and Rollei was caught without new developments...
...Cantor, now 56. A 1932 law-school graduate (St. John's University), Cantor forsook the bar for the bargain basement as soon as he left the class room; he took a $12-a-week buyer's job at Interstate instead of a position in a law firm that would have paid him $10. At the time, Interstate, which had been formed by a 1928 merger of three Midwest department-store chains, was having a rough time trying to fight its way out of the Depression. And while the company struggled to stay solvent, Cantor rose steadily through...