Word: investable
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Dates: during 1960-1969
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...Collins would be completed, but the emphasis in future would be shifted from big downtown building schemes to less visible, but no less important, housing and neighborhood-improvement programs. As proof of his efforts, he announced this month that he had persuaded Boston banks, insurance companies and industries to invest $56 million in depressed neighborhoods. Some $50 million will be in loans to finance rehabilitation and construction of low-income housing units, while the remaining $6,000,000 will be seed money to encourage poor people to set up their own businesses...
Possibly in a generation, polls may lead to instant national referendums. Every voter would have a small electronic box with "yes" and "no" buttons. The President could ask for public opinion on any issue-Should the nation invest $50 billion to send men to Mars?-and the presumably informed electorate would flash back an immediate response. Technically, this is feasible right now. Automated democracy might dilute the power of a lot of Congressmen-no loss to democracy in some cases...
...concerned with religious matters than social and political issues. The 180th General Assembly heard the Rev. Ralph Abernathy plead his poor people's cause, a plea which the delegates answered with a recommendation that their church donate $100,000 to the march on Washington. They agreed, moreover, to invest 30% of the church's unrestricted funds in housing and business enterprises in low-interest, high-risk areas. In a dramatic effort to invest church services with contemporary relevance, a new communion litany, which may become part of the permanent ritual, was written for the meeting...
Last week, for example, the Weyerhaeuser Co. teamed up with the Palo Alto, Calif., home-building firm of Brown & Kauffmann to start an $18 million residential community on the San Francisco peninsula at Los Gatos. Weyerhaeuser will invest more than $3,000,000 in its first venture in home building, and split profits with Brown & Kauffmann. Most of the money is to be borrowed from Metropolitan Life Insurance Co. at a rate (71%) well below that which the home-building firm might itself have had to pay. Though small companies still dominate the housing business, the trend is running clearly...
...time, Ben Sack was primarily involved with a copper and smelting plant. In 1949, he was again offered the chance to invest in a movie house. Again he accepted. This time it looked even rougher. The theatre, which had to be refurbished and reopened, was located in Fitchburg, a factory town of 43,000. It had only one competitor, an already successful operation right next door. Within a year and three months, Sack's group bought out the neighboring opposition. It had been owned by Joseph P. Kennedy...