Word: intra
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Since Beirut's overextended Intra Bank collapsed a year ago, the precarious prosperity of little Lebanon has been flattened by multiple misfortune. Despite a massive infusion of loans from the Lebanese central bank, which halted subsequent runs on Beirut's 71 other locally owned banks, foreign confidence in Lebanese banking has faltered. Many billionaire sheiks, whose deposits had helped to make Beirut the banking capital of the Middle East, moved their riches elsewhere. Tourist trade, the other principal prop of Lebanon's economy, all but vanished with the Middle East war. Now, in once bustling Beirut, sumptuous...
Last week, with a lift from Wall Street, Intra Bank prepared to rise again. Under a deal worked out by the Manhattan investment-banking house of Kidder, Peabody & Co. and approved by the Lebanese government, the bank that was once the country's largest will be transformed into an international investment company. It will take over Intra's extensive business holdings-including thriving Middle East Airlines, Beirut's port and the Phoenicia Hotel, cement plants, warehouses, casinos, a French shipyard and valuable real estate on Paris' Champs Elysees-and try to recoup the bank...
...soon. But there is some chance that Germany's most fundamental political questions will be treated with far more dispatch and directness than the foundering Grand Coalition in Bonn can now provide. For the debate within Berlin could produce skilled and forthright Parliamentary leaders hardened by the travails of intra-party maneuvering. More important, it is certain that this development will stimulate the Federal Republic's now-sterile political debate. All Germany will be the better...
Labor's militancy is also prompted in part by inter-and intra-union rivalries, which force each faction to try to win more than its competitor. A bitter feud between the A.F.L.-C.I.O.-affiliated American Federation of Teachers and the older National Education Asso ciation has escalated teachers' demands in the past few years. Similarly, Walter Reuther may have been less ready for his U.A.W. to settle with Ford because of his own longstanding differences with A.F.L.-C.I.O. President George Meany...
...Morgenthau was one of the President's closest confidants and most loyal disciples. Crusty and at times a bit pompous, he was a master of intra-Cabinet maneuver and often stole the march on his fellow secretaries in influencing the President's decisions. It was he, more than any other Administration figure, who drafted the Allied economic battle plan for World War II and brought America's fiscal physique back to fighting trim...