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Though the Wallenbergs will own only a relatively small piece of the new bank, Swedish businessmen expect that the family will be responsible for much of its leadership. Instead of a small family merchant bank, they will have a big commercial bank capable of competing more effectively with such multinational giants as Britain's Barclays and France's Crédit Lyonnais...

Author: /time Magazine | Title: SWEDEN: The Wallenberg Grip | 10/4/1971 | See Source »

...prohibition against reprisals into the form of a highly unusual court injunction. The brief for the injunction was drafted by a prisoner who provided an odd element in the largely black cast of rebels: Jerome S. Rosenberg, 34, a slight, round-shouldered son of a middle-class Jewish Brooklyn merchant. After a career of lesser crimes, Rosenberg was convicted eight years ago as a cop killer. Governor Nelson Rockefeller commuted his death sentence to life imprisonment in 1965, giving Jerry Rosenberg a chance to become a skilled jailhouse lawyer...

Author: /time Magazine | Title: The Nation: War at Attica: Was There No Other Way? | 9/27/1971 | See Source »

...much to Hopper's established reputation. But it does reveal a good deal about Hopper's interests and development, his slow trial-and-error manner of working, his exacting standards for himself and his relationship with the world. The son of a frustrated scholar turned dry-goods merchant, Hopper was born in Nyack, N.Y., in 1882. He read prodigiously in his father's library: English, French and Russian novelists, philosophers from Montaigne to Emerson. He was a loner almost from the start, perhaps because by the age of twelve he had sprouted to an awkward...

Author: /time Magazine | Title: Art: Light and Loneliness | 9/27/1971 | See Source »

...dangle some of the same lures as Coolidge, few provide as many attractions simultaneously. Coolidge jolted the Boston banking community several years ago by dropping charges and minimum deposit requirements for checking accounts, a move that brought in 25,000 new accounts. Says President Milton Adess, a former hardware merchant who led in the bank's founding: "We're using our customers' money, so why should we charge them for it?" Coolidge was also the first in the Boston region to pay interest (4%) on Christmas club accounts. The bank stays open Saturday mornings, knocks...

Author: /time Magazine | Title: BANKING: Cool Cash from Coolidge | 9/20/1971 | See Source »

This summer the coffee grounds have been telling a different tale. Since January, freight rates have dropped to their lowest levels in 14 years, sending many shipowners scrambling just to keep even with loan payments on their vessels. Off Piraeus, 250 merchant ships lie at anchor, mute testimony to the inability of their owners to find cargoes. Similar scenes of placid but unintended idleness can be found at anchorages throughout Europe...

Author: /time Magazine | Title: SHIPPING: Freight Rates Foundering | 8/9/1971 | See Source »

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