Word: hertz
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...hours of after-dinner ceremonies went from Graham's opening remarks to a closing "My Turn" salute by Time Inc. Editor in Chief Henry Grunwald, who observed that TIME and Newsweek have been "inevitably linked as a fated pair, like Macy's and Gimbels, Coke and Pepsi, Hertz and Avis." Former Newsweek Editor in Chief Osborn Elliott recalled the day in 1961 when Philip Graham bought the magazine from Vincent Astor's estate. "All he had was a personal check," reported Elliott. "He said later he had never written a check for that amount of money...
...uses his credit card too often, many U.S. corporations now find themselves over their heads in debt. As sales continue to slacken and interest rates remain high, some of the largest and most successful American corporations are experiencing problems. Last week RCA Corp. was negotiating to sell its Hertz auto-rental subsidiary for about $700 million to Firestone Tire & Rubber Co. so that it could reduce its nearly $3 billion debt. Boeing saw its bond rating reduced by Standard & Poor's from AA-to A because it will have to borrow heavily in order to finance the construction...
...other personae of this remarkable exercise in fiction and historiography are not, and they rise from the pages as Jakob remembers them and their contributions to physics. There is the fascinating Scotsman James Clerk Maxwell, who forged the theory of electromagnetism, and Jakob's fellow Germans, Heinrich Hertz, Hermann von Helmholtz, Max Planck and that disturbing chap, Albert Einstein, who, to Jakob's everlasting distress, fused physics with mathematics and introduced a radically new way of seeing and thinking. It is a way that will provide humanity with a method of destroying that most complex and fragile construction...
Bradshaw insists that he has made no decision either way about what to do with C.I.T. and Hertz. Says he: "Naturally, we will keep them as long as they pay their own way and provide funds for other corporate ventures. But we have not yet decided if they do fit into the future of RCA." Wall Street experts are doubtful, however, and believe that Bradshaw will soon unload one, or both, of these properties. It already sold Random House...
...retreat from the world of conglomerates will result in a healthier company. Said R. Joseph Fuchs of Wall Street's Kidder, Peabody: "It makes sense to get rid of the diversified businesses and hop back to being a communications company." The sale of C.I.T. or Hertz would also give RCA some badly needed cash to spend on expensive new ventures into satellite communications, cable programming and broadcasting. - By Christopher Byron Reported by Peter Stoler/New York