Word: flagships
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Dates: during 1970-1979
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...together a financial empire with $3 billion in assets that centered on a string of 19 banks, most of them in Michigan. But the Parsons Group foundered during the 1970 recession. Parsons was all but wiped out and forced out of banking. Even under new management, the flagship of his operation, Detroit's Bank of the Commonwealth (B.O.C.), continued to sink into deeper trouble. Last week the Federal Deposit Insurance Corporation felt obliged to start a $60 million rescue operation-only the second and by far the larger such lending effort in the agency's 38-year history...
...News. Though rising costs, a depressed economy and competition from television for consumer advertising all hurt, Cowles cited a planned second-class postal rate increase as the final crusher that forced him to fold the flagship of Cowles Communications Inc. The proposed new rates would more than double mailing costs for all U.S. magazines, and would have sent Look's postal bill rocketing from $4,000,000 to $10 million in five years. Cowles called the increase "unconscionably high and a complete reversal of U.S. postal policy since the days of Benjamin Franklin, who felt that the cost...
...newspapers in Britain today," he says. "It doesn't make sense to have more." Time seems certain to prove him right, and clearly His Lordship hopes the Times will be among the survivors. But unless he can steer it out of the sea of red ink soon, the flagship of Fleet Street just may not make...
...time of triumph for Cambodia's beleaguered regime. South of Phnom-Penh, Cambodian officers cheered "C'est fini!" and lit victory cigars as troops at last broke a two-month Communist hammer lock on vital Route 4. Hours later Air Cambodge's Caravelle jetliner flagship touched down at Phnom-Penh's Pochentong Airport, a sunny complex eight miles outside the capital. As he stepped out of the Caravelle, moon-faced Premier Lon Nol seemed pleased with his two-day trip to Saigon, during which he and his South Vietnamese allies had made a start toward settling...
...spring. Now it took on a special urgency. By his presence, the President means to show the flag in the Mediterranean, where Russian naval strength has been growing. The point will not be lost when he appears at sea on the bridge of the guided-missile cruiser Springfield, a flagship of the Sixth Fleet, or when he calls on NATO's southern headquarters in Naples. His visit with General Franco in Madrid will be a much publicized reminder of the renewed agreement on American military bases in Spain, just across the water from the Russian missiles...