Word: hoards
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Dates: during 1970-1979
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Stories about shabby beggars who hoard secret fortunes are commonplace enough, but Eddie the Monkey Man, who died in his sleep last month at the age of 79, was unique. The son of a Jewish immigrant peddler in Pensacola, Fla., Eddie Bernstein lost both legs at the age of twelve when a train ran over him. He began riding around in a goat cart, selling newspapers. In the mid-'30s, he left the Depression-ridden South and moved to Washington, D.C., where he established himself on a wooden platform on F Street between 12th and 13th Streets. He joked...
...pupils in Catherine Swiger's fifth-grade class in South Portland, Me., are collecting bottle caps. Since October, the children have accumulated nearly 140,000 and rather optimistically expect to reach their goal of 1 million by June 1980, when they will cash in their hoard with a scrap dealer and throw a class party...
...With a hoard of cash, American Express aims at McGraw-Hill...
...also sounded out others but received a polite no. Amexco's young, aggressive management is not about to give up. Faced with heating competition for its dominance of credit cards and traveler's checks, the company is looking for profitable new uses for its money. That hoard is so huge-$4.4 billion in cash and securities, plus the $1.8 billion "float" of uncashed traveler's checks-that Amexco can make a handsome offer for almost any corporation. Last week it surprisingly bid for McGraw-Hill Inc., the publishing empire (1977 sales: $659 million) that produces Business Week...
...share, or $1.5 billion. Aside from collecting assets cheaply, Borg-Warner would be buying 1) protection from a possible unwelcome bidder for its own company, 2) a sizable paper loss from the 500-series recall that could be used to reduce future taxes and 3) Firestone's hoard of spare cash...