Word: lande
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Dates: during 1970-1979
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Young men and women of Harvard, a new and beguiling scenario is being written these days in key spots throughout this land. It's called "National Youth Service." Don't buy it. It's a euphemism for the grim and ugly reality of THE DRAFT. If the Pentagon can't figure out how to make a success of its volunteer army, let them give up the war idea altogether. Let unswerving opposition to this so-called Youth Service mark the recrudescence of student activism. Let Harvard lead the way in the cry for NO DRAFT! NO CONSCRIPTION! NO SELECTIVE SERVICE...
...over domestic is the real problem with investment in America. Given the massive political uncertaincies inherent in many foreign nations, it is dubious that a few percentage points of doubt present in the U.S. are decisive. Far more important are the basic factor costs of labor, capital, materials, and land in real terms. U.S. deficit spending does not affect the wage of factory workers in Taiwan, or the proximity of ore in Southern Africa...
...Rogers became famous as Trapper John in the TV series M*A*S*H, he was boning up on finance and managing the money of his friends, Actors Peter Falk, James Caan and Jack Webb. In 1969, with those and other pals, he bought 2,500 acres of farm land in Paso Robles, Calif., for $750,000 and turned 500 acres into a vineyard that has become famous for its Merlot grapes. Future plans call for building a 40,000-case winery on the property. The land is now worth $7 million and that, Rogers says, "can make...
Robert Nathan, 70, economic consultant, Washington. Nathan believes that "stocks and bonds are for the birds under current economic conditions. They are not adequate hedges against inflation. Land is the best." For investors who need income, Nathan suggests buying "real property-apartments, office buildings, things that offer a reasonable return and good appreciation." His own investments have been in farm land; one 270-acre spread in Maryland has quintupled in value in the 15 years that Nathan has had an interest...
Felix Rohatyn, 50, partner, Lazard Frères, New York City. He has made only one major investment in the past six months, a house on 2½ acres in Southampton, N.Y. "If worse comes to worse, I can always plant some lettuce and corn and live off the land," he says. Rohatyn is filling his house with antiques because "what I paid $1,000 for this year, I probably could have bought for $300 two years ago, and probably would have to spend $2,000 for a year and a half from now." He also cites as a "spectacularly...