Word: lending
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...even the populist Carter Administration has backed Volcker's high-interest policy. Yet banks have had plenty of money to lend anyway-perhaps too much. In the past month, the money supply has grown at an annual rate of 11.5%. Beryl Sprinkel, executive vice president of Chicago's Harris Bank, argues that this "hemorrhaging" must be stanched if inflation is ever to be curbed...
...said the bank does not make loans to the South African government itself, but it does lend to government-owned corporations and agencies...
...Patrick's prayer service was an extraordinary interreligious festival. The Dalai Lama, 44, was surrounded by a group of Protestant, Armenian, Catholic and Jewish clergy. To lend a Tibetan air to the proceedings, a group of monks clanged cymbals and blew traditional horns. The Dalai Lama, who was greeted with a standing ovation, had earlier declared that "all the world's major religions are basically the same." But the host at the service, Cardinal Cooke, was more cautious, perhaps to assure traditional Catholics who had come into the church to light candles at the side altars. No syncretistic...
...industry for mundane improvements like furnace maintenance, lighting adjustments, plugging leaky steam traps, recovering, installing insulation and developing more efficient technologies to replace the existing capital stock. Indeed, it's the very banality of such measures that is the primary problem with conservation--the approach just doesn't lend itself to any heartrending, grandious schemes like the Manhattan Project or landing a man on the Moon. But the Energy Project believes such simple measures could cut U.S. energy consumption by almost as much as all the oil, domestic as well as imported, used in the nation...
...will have to wait a long time for dividend payments to resume. Top managers could well announce token salary cuts* and the sale of the company's three corporate jets. Bankers may have to accept deferred payment and lower interest. A committee representing Chrysler dealers has offered to lend the company $50 for every car they receive-a deal that ultimately could amount to an interest-free credit totaling $120 million. lacocca has already confirmed that certain suppliers have agreed to extend terms of payment. Chrysler has also asked some to cut prices by as much...