Word: june
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Dates: during 1970-1979
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...fact, for many Americans, today's high rates have become a bonanza. The reason: since June, banks have been offering money market certificates. These are six-month time deposits that pay interest equal to-or when sold by a savings and loan, a quarter-point better than -what the Government has to offer to sell its six-month Treasury bills. And while regular bank certificates of deposit normally cannot be had for under $100,000, MMCs sell for as little as $10,000; many people have switched their savings to them...
Their popularity has soared along with T-bill rates, which have climbed from 7.75% in June to a high of nearly 10% in January, although lately the rate has eased back slightly. Already MMCs account for a startling $80 billion in deposits, and some bankers are wondering whether they were such a good idea. Their purpose was to keep banks flush with mortgage money, which dries up when interest rates rise and people begin emptying out savings accounts to buy high-interest bonds. While the MMCs have prevented that from happening, they have also led banks into a tight profit...
Ford has been hit with more than 50 civil lawsuits charging negligence in placing the Pinto's gas tank far in the back of the car, where it is vulnerable to rear-end collision damage. In June 1978, Ford announced the recall of 1.5 million Pintos built between 1971 and 1976 to remedy this defect, which does not exist in later models. But the Indiana case is the first in which Ford-or any automaker-has been charged with a criminal offense...
...southern side of Gramercy Park, that most Jamesian of Manhattan's squares, and last week it was proceeding, slowly and irreversibly, to come apart, as the photographers, appraisers and people from Sotheby Parke Bernet moved through it, checking and cataloguing, preparing the four-day auction that in June will scatter the mansion's contents for good. What had been the background to a life had already acquired a museum glaze; the invidious perfection of the showroom lay, like a cold sheet of plastic, on every tabletop and drawing. Its memory circuits had been...
...University did take the first steps toward assuaging some of the hard feelings last week, when Graduate School of Design officials announced that they would consider giving tenants on Sumner St., scheduled to be evicted on June 1, more time to move...