Word: loans
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Dates: during 1950-1959
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...Fruehauf, wealthy truck-trailer manufacturer, who was offered a $1,500,0001oan from Teamster funds by Beck when a proxy battle threatened his company. Fruehauf showed appreciation by arranging a complicated $200,000 personal loan for Beck when the Teamster boss was being investigated by Internal Revenue agents. But Fruehauf drew the line at making a company loan because "I didn't think it was good business...
Since another part of that interest entailed a loan-for which Beck was a guarantor-to Levine's company from Seattle's First National Bank, Levine saw what Dave meant. "I asked Mr. Beck, 'Well, you win, what do you want?' He said, 'I would like to have my son as president of the company and to have him have the complete say-so of drivers and of trucks.' So I agreed. That is what I had to do." Junior promptly became K & L's president, and next day the whisky truck...
...explained that little by little he got the wind of Dave's shenanigans, advised him more than once that it was time to straighten out his affairs. At length he fired off a "Dear Dave" letter: "There has been talk of your receiving a kickback [from a building loan in Honolulu with Teamster funds], the plain implication being that this was in accordance with a pattern. I am sure that your fiduciary duty has never been sufficiently impressed upon your mind. Accept my resignation...
...able to earn twice as much money as their older counterparts. Yet rising costs are eating away the profits the lines had hoped to set aside to buy them. American Airlines, for example, has $250 million worth of new jets and turboprops on order. It has a $135 million loan to pay for part of the cost, but $115 million of the total must come from earnings...
Curley's proudest boast is that he was always a friend of the poor. The Christmas basket, the $10 loan, the stay of eviction, the city job-all bought him votes, but also made his headquarters a "school, employment agency, court of domestic relations and poor man's 'psychiatric couch.'" He was the voice of the poor, too, railing down the years against the Brahmins of Back Bay, State Street and Harvard. Curley's long memory bears the imprint of the Yankee sign, "No Irish Need Apply," that was so frequent in his youth. Though...