Word: gaines
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Dates: during 1970-1979
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...borrowed heavily to buy 164,228 shares of that stock in June 1975. He had paid $17.74 per share, or $2.9 million, as part of a move with two partners-Pattillo, a construction company president, and John Stembler, a Georgia movie-theater chain owner-to gain majority control of the bank. Lance's entrepreneurial acumen helped to almost double the bank's assets. However, the prospect of his large block of stock going on sale, plus his own departure and the bank's falling profits, have caused the stock's market value to drop...
...Russians face a delicate diplomatic problem in trying to gain a new client on the Horn of Africa. Too many gestures of friendship to Mengistu are bound to alienate Somalia, which Russia also supplies and which is being wooed out of the Russian orbit by promises of economic aid from Saudi Arabia. Apparently unbothered by such strategic complications, Mengistu is planning an all-out assault on Eritrea, led by a people's militia of 200,000 peasants equipped with cast-off American arms and trained-if that is the word -by a small cadre of Cuban advisers. They hope...
Yale's freshman boat beat Harvard by three seconds but the Crimson's second-place showing helped Harvard gain the overall trophy...
...that is the lowest figure in 29 months. Treasury Secretary Michael Blumenthal estimates that U.S. GNP will rise 7% in the second quarter, v. 5.2% in the first. U.S. auto sales in April climbed 12.5% above a year earlier, and consumer credit in March made its biggest one-month gain ever-$2.7 billion. Industrial production in the U.S., a key measure of economic vibrancy, is now 6.3% higher than it was before the onset of the slump...
Snob Appeal. In its assault on the U.S., Perrier faces an exquisitely tricky marketing problem. It must shed some of its aristocratic image to gain acceptance in the plebeian American supermarket-but not so much that it loses its sales-winning snob appeal. Perrier's current U.S. price will be cut by 20% or 30%. For convenience, the water will be sold in bottles of six-packs, just like beer. The company intends to launch an introductory $4 million advertising blitz featuring Orson Welles, and will aim a special pitch at the youth market...