Word: loaned
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Dates: during 1970-1979
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...assembly committee, does not al low her lobbyist husband to buy her din ner. There is some doubt that Sarah Michael, a consultant for another committee, could legally accept an engagement ring from Bernie Mikell, her boy friend, since he works as a lobbyist for the California Savings and Loan League. The state's assemblymen have sworn off the free orange juice, dough nuts, ice cream and milk that traditionally have been donated by outside interests...
...proclaimed goal of transforming his ancient kingdom into one of the globe's most important nations. Last week reports surfaced that the Shah once again was stalking where most bankers fear to tread. According to aviation-industry experts, Iran's banks are preparing to grant a loan, thought to be as much as $250 million, to ailing Pan American World Airways, the de facto U.S. flagship air carrier. The loan could save Pan Am from a confrontation with creditors that might have ended in the airline's bankruptcy...
...loan is only one in a growing number of bold business ventures by the Shah. Last year Iran bought a 25% chunk of the steel-producing division of West Germany's Krupp concern for $100 million, and Iranian banks participated in a $200 million loan to the Grumman Corp. Last week the Shah also unveiled a grandiose $5 billion project for the modernizing of Tehran, his capital...
...Shah's loan to Pan Am would come just in time. The airline lost an estimated $75 million in 1974 and $165 million in the five years before that. This year's prospects offer little cheer for the airline. Jet fuel costs are still at record highs, the recession is cutting into tourist travel, and payments are constantly coming due on the company's huge debt...
...National. Unable to raise enough cash by selling stocks or bonds, many of these so-called second-tier banks have been forced to borrow increasing amounts of money from other banks and from the Federal Reserve, often on short terms and at high interest rates, in order to satisfy loan demand. As the recession has gathered steam, meanwhile, bad loans have been mounting...