Word: float
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Dates: during 1960-1969
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...could provide important benefits for the mail. The department would be freed from the shackles of political patronage, parsimonious appropriations and a jungle of congressional rules and regulations that often thwart efficiency. The reorganization would also provide a financial flexibility now sadly lacking by allowing the postal service to float bonds to pay for the estimated $5 billion-worth of plant and equipment improvements needed to achieve modernization...
...space first. Stafford explained to ground controllers that the crew was about to conduct "scientific experiment Sugar Hotel Alpha Victor Echo"-or SHAVE. NASA had spent $5,000 trying unsuccessfully to perfect a small electric razor with a vacuum attachment that would suck up bristles -which otherwise might float freely and clog up instruments in the weightless environment of the spacecraft. The Apollo 10 astronauts had a simpler solution. They broke out a razor and a tube of brushless shaving cream and attacked their week-old beards in the traditional manner. The bristles were successfully contained in gobs of shaving...
...every American over 18? Answer: any one of four Gulf Oil tankers, each of which can haul 326,000 tons of oil. They share the title of world's biggest tanker-but not for long. A tanker with a capacity of 372,000 deadweight tons (d.w.t.) will float out of a Japanese yard in 1971. Thereafter? Shipbuilders can make a tanker as capacious as anybody wants, but the idea hardly enchants them. They have problems enough building anything above 200,000 tons...
Banks last week charged government bond dealers as much as 10% a year for loans to finance their holdings of securities. Interest rates on tax-exempt local bonds reached new peaks. Cobb County, Ga., for example, paid 6.49% interest to float an issue. A block of Government-guaranteed local public-housing bonds was offered to investors at a record annual yield of 5.55%. For a person in the 50% federal income-tax bracket, that is the equivalent of an 11% return before taxes on ordinary stocks or bonds...
Elastic Rules. In one effort to limit such legerdemain, the Securities and Exchange Commission expects within a week or two to tighten the disclosure rules for companies seeking to float securities. Companies will be required in registration statements to divulge their sales and pretax profits for each line of business that contributes more than 10% to the total. Firms that engage in only one activity will have to abide by the 10% rule in showing sales by product or service. Though the new regulations will not apply directly to annual reports, many companies have already begun revealing operating data once...