Word: loan
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Dates: during 1970-1979
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Lance brings an expert banker's dexterity to refinancing his personal debts. One example: a loan of $3,425,000 from the First National Bank of Chicago, originally a $2.7 million loan drawn in 1975 from New York's Manufacturers Hanover Trust Co. to buy his 21% interest in National Bank of Georgia. The Chicago bank took over Lance's loan from Manufacturers Hanover in December. The additional $700,000 in the loan, explains Lance, covered "accumulated interest and debts...
...already bailed himself out approached W.C. Burris Young Jr. associate dean of freshmen or bail money for a fellow student who had refused to post ail. Dean Young lent the undergraduate the $100 needed to over bail with the explicit stipulation that the money was a personal loan and did not come from University monies. This accident underscores still another shortcoming in University regulations: namely that absence of any contingency fund that imprisoned students can draw upon should they wish to bail themselves out and lack the necessary cash. The University should also consider the establishment of such a fund...
...earns about $20,000 a year, in the form of cash from his boss, a salary from a phantom job in a Mob-infiltrated business or a share in the proceeds of a racket. If his superior approves, the new man can start some minor enterprise of his own?loan-sharking, bookmaking, labor racketeering. If he demonstrates a taste for violence, business acumen and organizational skill, he will rise rapidly...
Foreign confidence was shaken by the disastrous financial crisis undergone two years ago by the country's national oil company, Pertamina. Afflicted by gross mismanagement and blatant corruption, the company could not repay several billion dollars in loan obligations and had to be bailed out by the government. To help raise the money, the government assessed Caltex-producer of 63% of Indonesian oil-an extra $1 per bbl. in royalties and arbitrarily cut the earnings of other foreign oil companies by about $2.50 per bbl. Admits Indonesian Minister of Mining Affairs...
...numerous doomsayers simply by surviving. Now the country appears to be regaining strength. In addition to its vigorous industrial recovery, tourism, which is Italy's biggest earner of foreign currency, is thriving. As gestures of support, the International Monetary Fund has just approved a $530 million stand-by loan, and the European Community has put up $500 million. The lira, artificially propped up by tight controls for the past year, once again is being traded on the free market and is holding steady at 882 to the dollar. But an unchecked inflation, now running at 21.8% a year, threatens...