Word: millions
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Dates: during 1960-1969
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...assignment: Apollo 11 Astronaut Michael Collins, who minded the command module while Comrades Armstrong and Aldrin descended for the moon landing. Though the post usually goes to a newsman, Collins believes he has some unique qualifications for the task. "We can talk very clearly from a quarter of a million miles out in space," said he at his first press conference. "And I don't see why I can't carry over some of these techniques into...
...when high-quality corporate debentures sold at interest rates of 2.45%. But the rise in rates and the concurrent drop in bond prices have speeded up enormously since the current inflation began in 1965-and especially this year. Last week, for example, the New Jersey Turnpike Authority sold $137 million worth of bonds at a tax-free interest yield of 7%, compared with a 5⅞ yield on bonds that it had sold four months earlier. Interest rates on high-grade corporate bonds are threatening to go above 9%. The yield on bellwether U.S. Treasury bonds maturing...
...mortgage and bond issuers may have to pay variable interest rates tied to movements in consumer prices. Some experts also expect a swing from long to short-term financing. There are signs of that happening already. Executives of Hawaiian Electric Co., for example, last month wanted to-sell $18 million worth of 30-year bonds but, after consulting with underwriters, decided instead to sell an issue maturing in only five years...
...rise in nickel prices had been expected, but the increase from $1.03 per Ib. to $1.28 was the largest in this century. Inco rested its case for the steep rise as much on its plan to spend $600 million for expansion by 1973 as it did on the wage increases. Even without the strike-induced shortage, the world demand for nickel has been outpacing supply, and the imbalance could continue for several years...
Beyer's pop psych is apparently remarkably effective. Pennsylvania Life Insurance has been spectacularly successful. Since 1960, it has increased its assets by 800%, to $48 million in 1968, and its life insurance in force by 11,600%. In 1968, its "gains from operations," the insurance industry's rough equivalent of profits, were $4,000,000. An investment of $13.50 in the company's stock five years ago is worth $242 today...