Word: loan
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Dates: during 1970-1979
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...took 3,800 pages of testimony from 64 witnesses before a federal grand jury in Atlanta. The 180-page public version of Curran's report (a fuller version, with transcripts of testimony before the grand jury in Atlanta, remains sealed) demonstrates beyond serious challenge that no family or loan funds were siphoned into Carter's 1976 presidential campaign. More narrowly, it finds that Presidential Adman Gerald Rafshoon did not borrow from any bank in 1976 to keep Carter's media campaign alive, as some press reports had alleged. But less persuasive is Curran's conclusion that...
...unwisely launched a massive expansion of the warehouse. From 1975 through 1977, they borrowed nearly $10 million to buy a huge new peanut sheller and enormous supplies of raw peanuts. But from the beginning, the warehouse consistently sold peanuts it was supposed to be holding as collateral for the loan. At one point in the spring of 1976, there were no peanuts at all on hand for two months, while the warehouse owed N.B.G. $1.1 million...
Already the cost of money for almost all purposes is soaring. Federal Home Loan Bank Board Chairman Jay Janis predicts that mortgage rates, which now average 11.5% nationwide, could reach 14% by January. Meanwhile, the ability of consumers to pay for costlier credit, oil and everything else is rapidly declining. Washington Economic Consultant Michael Evans calculates that inflation and the rising tax bite have reduced the spendable income of a family of four earning $20,000 annually by $1,000 so far this year. If consumers suddenly begin closing up their wallets and pocketbooks, as they are expected to, inventories...
...PERSONAL LOANS: In many states interest rates on loans to buy a car or boat, finance a vacation or "for any worthwhile purpose," as the bankers say, have long been as high as the law allows-13.38% in New York on a three-year car loan. But bankers will tighten standards for receiving such loans; some say they will scrutinize a borrower's "relationship" with the bank. Translation: if you don't already have a savings or checking account there, don't bother asking for a loan. Bright spot: student loans will continue to be available...
...condominium apartments and several offices. The 19th century structure, designated a historical landmark because it has one of the oldest cast-iron facades in the Northeast, commands spectacular views of Boston. Every unit in the planned conversion was sold before Deane went to the bank for his building loan. With 10% up front from every investor in the building and all the cash he could pull together, Deane was able to swing a loan of $1.6 million. The project was to be completed last April. Then he had trouble putting the package together. Work on the building started 14 months...