Word: lende
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Dates: during 1980-1989
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American banks, those stately citadels of stability, are going through an upheaval. A few, like New York's Bankers Trust, have virtually gone out of consumer banking and now lend money almost exclusively to businesses. California's Bank of America and others have instituted heavy minimum deposits and stiff fees on small accounts. Still others, like New York's Citibank, are aggressively trying to win new customers through improved services and bank-at-home computer terminals...
...their fields--and all agree that professors take seriously the task of choosing future colleagues in whom the University may invest as much as $1.5 million over time. But, say some, the process allows such broad discretion at so many stages of the tenure process that the system may lend itself to gender or race discriminations. Others argue that Harvard's reputation-heavy criteria effectively mandate the selection of older professors--and thus implicitly discriminate against qualified younger pools, where greater proportions of women are found. "There are an awful lot of women who are tenurable but are too young...
Ostensibly, the proposed marriage of convenience looked simple and innocent. Harvard would lend its name to the search for sources of venture capital and would license the University's patents (on Ptashne's work) to the new firm. In exchange, it would become a minority shareholder in the company and would receive royalities on at least some of the patents without investing any money. Aside from promoting the development of patents that might have lain dormant, Harvard stood to win big, putting only its reputation on the line...
...proprietor: Fashion Designer Pierre Cardin. The $20 million tab was steep even for Cardin, 58, who lately seems more interested in haute finance than haute couture. He has had designs on the art nouveau establishment since 1978, when Maxim's present owners, Louis and Maggie Vaudable, agreed to lend the eatery's venerable name to a Cardin-owned line of boutiques and consumer products. The French designer now hopes to squeeze even more profits out of the name by launching a chain of mini-Maxim's boutiques in the U.S. and Japan...
...solution has been for sellers to lend money to the buyers at a more affordable 11% or 12%. That cuts down on an owner's profit, but at least makes it possible to sell property in today's sluggish market. The National Association of Realtors estimates that half of home sales now involve some sort of seller financing...