Word: loaned
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Dates: during 1960-1969
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...versatile Braden, 51, is a former Dartmouth English instructor, wartime OSS and CIA official, and owner of the Oceanside (Calif.) Blade-Tribune (which he purchased in 1954 with the help of a $100,000 loan from Nelson Rockefeller and sold profitably last year). A Kennedy liberal, Braden headed California's board of education, a post in which he clashed often with Max Rafferty, the reactionary state superintendent. This journalistic odd couple-Braden is tall, wiry and intense, Mankiewicz is short, round-faced and bemused -launched their project in the belief that most columns "are lousy" and fail to express...
...income of a furniture-company sales manager and his wife, an author of children's books. Despite their combined earnings of $110,000 a year, the couple found themselves strapped for cash. The bankers raised a tax shelter around cattle, which can be bought with help from a loan, then depreciated over eight years and sold for capital gains. The sales manager put $40,000 into a herd, of which $30,000 was borrowed from U.S. Trust. For investors in the 50%-plus tax bracket, the tax savings from this kind of investment can often repay the loan within...
Budget Cut. At the center of the controversy is the embattled Small Business Administration, which was supposed to have been the primary financier, cheerleader and quarterback of black capitalism. The Government's general budget hold-down has forced the SBA to cut its loans. Funds for the SBA's four main loan programs were reduced from $554 million last year to $253 million in the current fiscal year...
...would be necessary for it to "gather itself together." The House Small Business Committee went ahead with its own hearings and heard blacks and whites criticize inaction, lack of imagination and the kind of slipshod procedures that resulted in the use of funds to guarantee a $135,000 bank loan to Lou Brock, the St. Louis Cardinals star whose salary is $85,000. "Black capitalism has not failed, because it was never given a chance," said former CORE director Floyd McKissick...
...others, the losses are all too genuine. A Portland, Ore., printer borrowed heavily to buy a new issue of a computer manufacturer at 5. When the stock dropped to 21, his loan was called, forcing him to sell. Altogether, he lost about half of his $2,000 investment. Sylvan Fry, 53, a manufacturer's agent, began investing for the first time last winter, buying oil, chemical and computer issues. On paper he has already lost $6,500 of the $11,400 that he started with. George Ratliff Jr., 39, a Pittsburgh steel-company engineer, began 1969 with a portfolio...