Word: lasts
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Dates: during 1970-1979
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Born in 1883, Webern came of age amidst the last flowering of Viennese culture. He knew the writer Karl Kraus; he was painted by Oskar Kokoschka and treated by Psychiatrist Alfred Adler. Yet by choice and necessity, he remained a soul apart. He lived a frugal, ascetic life with his wife and four chil dren, eking out his income by teaching, by doing hack jobs for his music pub lisher and by conducting. He had a mea sure of success on the podium despite his distaste for the hubbub of the per forming life. He demanded unusual expressive nuances from...
Never had a clerical goof come at so inopportune a time. Less than a month after the Federal Reserve Board unfurled harsh new measures to whip inflation by holding down the money supply, chagrined Fed officials last week revealed that previously reported money figures had been overstated by $3 billion. Instead of surging in the past two weeks, the money stock had actually declined...
...This discrimination has been ended by the swelling number of money funds that have been formed by mutual fund companies and brokerage firms to pool small investors' assets. Since the returns rise along with surging interest rates-and the highest bank prime lending rate rose to 15¼% last week-money market funds are booming. About 75 such funds now handle nearly $40 billion in assets, way up from $11 billion in January and only $4 billion early last year. William Donoghue, publisher of Donoghue's Money Fund Report, estimates that new funds are being created...
Next March an unusual name will appear on the list of 17 nominees to the Chrysler Corp. board: Douglas A. Fraser, 62, president of the United Auto Workers. The nomination of this hardy adversary from Big Labor is part of the price that the automaker had to pay last week to win from the union economic concessions essential to corporate survival...
...breakfast last Wednesday attended by Vice President Walter Mondale, Treasury Secretary G. William Miller, and Fraser, the Treasury dropped its earlier insistence that aid be limited to $750 million. This raises the chances that Congress will give the company more, probably in the form of federal loan guarantees. Chrysler had asked for $1.2 billion. One worry: Booz, Allen & Hamilton, the company's management consultants, suggested that even $1.2 billion might not be enough. This week Chrysler will announce a third-quarter loss of about $460 million, more than double its previous record deficit of $207 million in the second...