Word: firm
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Dates: during 1960-1969
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Despite a tiny staff, United Student Aid Funds (USAF) has been the largest private loan guaranteeing firm in the nation since its formation in 1961. When the government first hinted several years ago that it might shift the loan program to private firms, USAF lobbied hard and successfully to have the new program run through the states -- thus giving itself a chance to offer its services to any state that did not have a going loan guaranteeing service. In 30 states, it has managed to become the major administrator of GILP, using federal funds as collateral behind student loans...
...Cocteau and Le Corbusier, who have created their own chapels. He was baptized only seven years ago (he took the name Leonard in honor of Da Vinci), and with age he decided, "It is time to think about a spiritual legacy." He convinced the director of the Mumm champagne firm to put up $300,000 to build and landscape the chapel above their wine caves near Reims. Foujita did 1,076 sq. ft. of frescoes inside the 47-ft.-long chapel, including a side chapel honoring the Madonna of the Vines, who sits on a wine cask and offers grapes...
...last week Hertz itself agreed to become a No. 2 of a sort. The rental firm's chairman, Leon C. Greenebaum, and Radio Corp. of America's chief executive, Elmer W. Engstrom, jointly announced that after an exchange of stock valued at $185 million, Hertz will become a wholly owned RCA subsidiary...
...instant success, partly because Kresge was willing to work 20-hour days and put all his money back into the enterprise, partly because he was a whiz at spotting "100% locations" where all a town's shoppers passed by. By the time Kresge incorporated the firm in 1912, he had 85 stores. In 1925, with 306 stores in operation and a fortune of $200 million already piled up, Kresge moved out of day-to-day management...
...Boston School Committee has at long last taken a firm step to cut down the number of racially imbalanced schools in the city. In a unanimous decision last week, the committee boldly voted part of the problem out of existence...