Word: home
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Dates: during 1960-1969
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Clear Lake, Calif., is a shallow, 40,000-acre body of fresh water that lies about 100 miles north of San Francisco. For centuries, it was home for a large colony of Western grebes, lovely birds that swim with the stately grace of swans and dive as skillfully as loons. But 15 years ago, in an environmental tragedy unwittingly perpetrated by man, large numbers of grebes began dying off, and the once-clear waters of the lake turned murky and green. Now, by introducing a new ecological cycle, scientists have saved Clear Lake's grebes and even clarified...
...threatening to go above 9%. The yield on bellwether U.S. Treasury bonds maturing in 1992 has climbed to 6.72%, and the price of each bond has dropped from $1,000 in 1962 to $714. Even at those interest rates, most bond issues are selling slowly. Mortgage rates on homes have risen to an average 8.12%, and financing for many would-be home buyers is painfully unavailable...
...corporations have been able to sidestep these problems by selling stock instead of bond issues. Developers of office buildings, apartment houses and shopping centers can arrange mortgages by giving the lender a share in the revenues or profits. These expedients are not available to home buyers or local government units that must sell bonds, and some authorities think that much more radical changes in the markets will be required if they are to raise the cash that they need. Sidney Homer and Economist Henry Wallich, among others, have seriously suggested that mortgage and bond issuers may have to pay variable...
Making It Worse. If widely adopted, these makeshift devices could be dangerous. The need to refinance mortgages or bonds every five years or so would create endless headaches for home buyers and builders of schools, roads and factories. Variable interest rates would amount to a recognition that lenders expect continued inflation. That in itself could explosively aggravate the nation's inflationary psychology, which is the basic problem. In the long run, the U.S. simply cannot have healthy long-term capital markets in the midst of inflation. The need to ensure a continued flow of long-term money into houses...
...system. Each is expected to be a father image to a five-man group of salesmen. The manager is trained more in lay psychology than in selling, and acts as a moral-rearmer when the salesman's spirit flags. "The manager's whole life, his home, his wife, his family, become the center of social activity for that sales force," says Beyer. "An army is disciplined out of fear; our men are disciplined out of loyalty to a leader, like a Cub Scout pack would be. A man cannot have the choice of whether he comes...