Word: investments
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Dates: during 1970-1979
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...Cabot's first announcements when he became president of Harvard management in April was that none of the employees of his company would be allowed to sit on the board of directors of "any corporation in which there is any possibility that Harvard might invest." This was a move long-awaited by students and one that was necessary to ensure that Cabot does not find himself in the position that Bennett encountered many times:deciding where his stronger loyalties be. Putnam has said all along that none of the Putnam family's financial companies will handle Harvard money...
...railroads, steel and other industries. Of the eight leading industrial nations, the U.S. has been reinvesting the smallest portion of its gross national product on new plants and equipment, about 10%. Japan has been plowing back nearly 20%, Germany and France 15%. Businessmen have not been able to invest as much as they might like in productive machines in recent years, partly because of a profits squeeze and a credit crunch. In addition, much of what they have spent has gone for probably necessary but essentially unproductive pollution-control devices. There is, however, one good sign: businessmen are stepping...
...tinker with anything if I can help it," says Boston's William W. Garth Jr., an M.I.T.-trained entrepreneur who likes to think up new products in printing technology and hire engineers to build them. In 1967 he observed that while large city newspapers had the money to invest in modern phototypesetting machines that cost roughly $30,000 each, smaller daily and weekly papers were still struggling with old-fashioned Linotype machines that were four tunes slower and far costlier to operate. So he instructed the engineers at his Compugraphic Corp. to develop a small, stripped-down phototypesetting machine...
...nearly a decade, Japan and the Soviet Union have been mired in desultory negotiations over joint development of the vast natural resources of Siberia. The Japanese need the oil, natural gas, coal and timber that the Russians offer and have plenty of hard currency to invest in extracting it. The Soviets need the cash, and Russian leaders from the time of the czars have been eager to develop that frozen wilderness. But the two parties have differed on just about every detail, from interest rates to what should be developed first...
...process of choosing the eight or ten professional staffers who will work under him. Cabot has already said that he will not allow himself nor any of his employees to sit on the board of directors of "any corporation in which there is any possibility that Harvard might invest," a sharp contrast to the practice of State Street's policy under Bennett...