Word: inces
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Dates: during 1970-1979
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...chairman of the Federal Reserve Board, seems to have run into some serious obstacles in his search for confirmation by the Senate Banking Committee, which has already postponed a vote twice. The Committee said last week it wants to hear more testimony from Miller about sales by Textron, Inc., the conglomerate Miller currently chairs, to the government of Iran. Apparently, Textron paid a $2.9 million commission to an Iranian sales agency on a deal involving 500 helicopters made by a Textron subsidiary. Members of the Committee staff claim it is common knowledge that the owner of that sales agency...
...major newspaper chains, the press followed the rest of America into the embrace of large corporate organization. Today The New York Times and The Washington Post are among the nation's 250 largest corporations, with interests going beyond the publications. Time is part of the even larger Time-Life Inc., a publishing empire of international proportions. In each case, the company's financial viability rests on the sum profitability of its enterprises, not simply the relative success, failure, or intrinsic merit of the publication. The company naturally comes to view its publication in more profit-oriented terms, to the detriment...
...grounds that many air crashes occur because of heavy pressure on crew members on their critical days. Indeed, United Airlines tried biorhythm for a year at a San Francisco maintenance facility, but then dropped it. Bernard Gittelson, a former p.r. man who is now the head of Biorhythm Computers Inc., believes the airlines will soon convert to the cause. Says he: "We are only five years from advertising tag lines like 'Our pilots never fly on critical days...
...mass psychotherapy. But you can't because the attitudes are not irrational. When you are uncertain about the environment for investment, then you will not commit your money, just as someone will not run in the middle of the street blindfolded." Otto Eckstein, head of Data Resources Inc., a Boston-based, computerized economic-forecasting firm, thinks that executives' caution should not even be described as "lack of confidence," but rather as "business realism...
Last week Lance got into a new battle. He had been dealing to buy control of Financial General Bankshares Inc., the second largest bank holding company in Washington, D.C.; with assets of $2.2 billion, it controls the Union First National Bank of Washington and close to a dozen other banks in Maryland and Virginia. At a meeting set up by Armand Hammer, who is chairman of Occidental Petroleum and a Financial General board member, Lance told the bank's senior officers he was acting for the London-based Bank of Credit & Commerce International, which specializes in managing Arab funds...