Word: millions
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Dates: during 1970-1979
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...moved quickly to pick up the endorsements of four of the five major New York City Democratic leaders and the mayors of the state's major cities. He also has the assistance of Governor Hugh Carey's organization in raising funds. Although Kennedy picked up half a million dollars at a Manhattan fund raiser, his speech was so lackluster that many of his supporters were disappointed...
...ever given a U.S. company. Just before recessing for the holidays, Congress last week agreed to extend an extraordinary $1.5 billion loan guarantee to the ailing Chrysler Corp. and sent the measure to the White House for Jimmy Carter's signature. The gigantic bailout, dwarfing the $250 million Lockheed loan guarantee of 1971, is designed to save from bankruptcy the nation's third largest automaker and tenth ranking manufacturer (1978 sales: $13.6 billion). With Chrysler's losses mounting daily, its 1979 deficit is almost sure to exceed $1 billion, the gaudiest splash...
Chrysler will be eligible for the federal guarantee only if it raises $2 billion on its own from sources specified by the legislation. From domestic banks, financial institutions and other creditors, for example, Chrysler must find $400 million in new loans that would not be covered by the Government's guarantee. Because the fate of Chrysler's suppliers and dealers is so closely tied to that of the automaker, Congress insists that they contribute $180 million by such means as buying stock or extending loans. Similarly, the states and cities that benefit economically as the sites of Chrysler...
...this, the key requirement imposed by Congress is the contribution from Chrysler's workers. Although its blue-collar employees have already agreed to forgo expected wage increases amounting to $203 million in the next three years, Congress insists that an extra $259.5 million be cut. This will force Chrysler and the United Auto Workers to renegotiate the contract that they concluded in November. Said Senator William Roth, the Delaware Republican: "Our proposal would have to be ratified by the workers. Ultimately, it is up to them." White collar employees will also be hit; their wage packages...
This wouldn't have happened if Mayor Daley were still alive." So Chicagoans console themselves when things go wrong, and last week, it is true, the late Richard J. Daley would scarcely have recognized his beloved city. A transit workers' strike stranded a million commuters and temporarily disrupted the city's economy. A walkout by oil delivery truck drivers caused a gasoline shortage. For the first time, the city's firemen voted to authorize a strike. And the school system, the nation's third largest, was on the verge of bankruptcy and in danger...