Word: marketeers
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Dates: during 1960-1969
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...surprising, for much of the City's housing shortage is directly or indirectly due to the presence of the universities. Acting like giant magnets, they draw new customers--graduate students, professional people, and hangers-on who wish to be near the universities--into the City's housing market. This year, 4020 Harvard students alone lived off-campus in Cambridge; the number of others who moved to the City because of the universities is unknown, but it probably ranges in the thousands. In this densely developed city, the supply of housing has lagged behind this increase in demand, and rents have...
...same meeting, James Q. Wilson outlined some of the general topics his committee was stressing, but decided not to discuss any specific-proposals. The main community relations problem that Harvard should worry about, Wilson said, was the University's impact in the Cambridge housing market...
...borrowing, already at a 40-year peak, continues to rise. Bankers have stepped up their prime rate four times in the past six months, to an alltime high 7½%, and speculation is widespread that they will soon increase it again. That expectation helped to depress the stock market last week. The Dow Jones industrial average fell 10 points...
...most glaring trouble signals came from the jittery bond market, which ordinarily supplies 95% of the capital needed to finance U.S. business expansion. Some bond dealers describe trading conditions as the most disorderly in memory. So many banks are unloading their bond holdings to raise money for loans that underwriters are being forced to offer "shock prices" to sell new issues at all. Southern New England Telephone Co. last week paid 7.723% interest-the highest for any unit of A.T. & T. since 1921-to bring out $65 million in debentures...
...funds. Investors have rushed to buy shares in the more than 50 chains that have gone public in the past four years. Stock prices have been commonly bid up to 50 or 100 times earnings, which is three to six times more than a blue chip commands in the market. This fevered growth and speculation raises serious questions. How sound are the chains as businesses? How well do they care for the ailing aged...