Word: lende
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...farmers can expect some $350 million in "deficiency payments"-literally, Government handouts-to make up the difference. In addition, more than 1 billion bu. of grain are expected to end up in farmer-owned reserves by the end of the year under a program that will lend farmers close to $2.9 billion to keep it off the market. The Agriculture Department is also expected to buy 10% of this year's dairy production, at a cost of $1.9 billion, to keep prices high. The estimated federal outlay in fiscal 1982 for farm subsidies and loans: a staggering $3.9 billion...
...life of the policemen, the "blues," of an inner-city precinct. And at the end of each show, plot strands and predicaments are left hanging to be tied up next week or never. Hand-held cameras on dingily lighted sets catch life on the run; overlapping conversations lend Hill Street the texture of a Robert Altman locker room. The tone can explode from mellow to melodrama within a single sequence. This is an urban M*A*S*H, a ferociously intelligent Dallas-and very much its own show...
...just Lawrence Welk music was being played in the community room. The raiders netted a whopping $13.60 and cited the highrollers on charges that could have won each six months in the slammer and a $500 fine. The folks at Caesars Tahoe casino in Lake Tahoe, Nev., decided to lend the boys a hand. A bus stocked with food and drink and staffed by a cocktail waitress brought them to the Nevada casino, where they were handed a few bucks each to play their game-without interruption. The biggest winner came away with a pot of $5, but Lady Luck...
...possible for GMAC to lend money at 13.8% when the prime rate is 20.5%? The answer is that GMAC borrows the funds it puts out as loans in the long-term bond market, where interest rates are lower. The company still has $300 million worth of old borrowing on its books at 4⅜%, and even the interest charges on new GMAC bonds are still much less than the prime. So far in 1981, GMAC has issued bonds worth $1.75 billion at an average rate of 14.1%. Given the overall size and maturity of its bond portfolio, GMAC is roughly...
...spot in the housing industry was the sale of existing homes, which rose by 6% in June to an annual rate of 2.6 million. The increase, though, reflected the vagaries of home financing rather than any strength in housing. With interest rates high and banks short of money to lend, the owner often has to offer the buyer a mortgage, if he hopes to sell. That has helped the turnover of older houses. Nonetheless, this part of the market is still 35% lower than its November 1978 peak of 4 million on an annual basis...