Word: loan
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Dates: during 1960-1969
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Accidental Start. Hawaiian-born Patterson started his career as a junior bank executive, got into aviation accidentally; in 1927 he made a loan to Pacific Air Transport, one of the struggling airmail lines that were later grouped into United. When United was organized in 1934, Patterson became its first president. Making way last week for George E. Keck, president since 1963 and United's new chief executive, Patterson allowed himself one small lapse into nostalgia. "I have great respect for marketing and research and for cost accountants," he said. "But I'm glad they weren't around...
Since every loan dollar sold would be counted as a dollar saved under the federal accounting system, the measure would have the effect of reducing the Government's deficit by $4.7 billion in the coming fiscal year. Despite Ford's criticism, few Congressmen, even those unsympathetic to the Administration, would be likely to accept the alternatives, a tax boost or a sharp reduction in domestic spending, or even offer spirited opposition to a scheme that their constituents could hardly understand. The House Banking Committee found it reasonable enough, approved the bill by a vote...
...dealer contests that can mean better bargains for buyers. > When a customer arranges new-car credit through his dealer, the lending institution usually rebates part of the finance charges on the car back to the dealer. For his finder's fee on a three year $3,000 loan, for example, a dealer can collect as much as $180. Some dealers, especially in California, sell cars at cost or even below and make all their profits on finance rebates...
Worldly Concerns. Having scotched the Peruvian bankers' old complaint that the peasant could not be induced to save, Father Dan in 1961 set up a nonprofit savings and loan association to finance desperately needed low-cost housing. U.S. savings and loan men provided technical assistance. So far, Father Dan's El Pueblo association has loaned $11.9 million to build 3,613 houses in the Lima area...
Among Father Dan's other current concerns are construction of a 20-story skyscraper in Lima, a plan to secure $9,430,000 in new capital with two other savings and loan operators to set up a new housing-construction bank, and a $1,000,000 loan request to the Inter-American Development Bank to set up a cooperative bank among his credit unions. Such cares tend to affect a man's point of view. To a friend who recently saw him checking into Lima's Gran Hotel Bolivar, the capitalist priest explained that...