Word: minimum
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Dates: during 1960-1969
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...Commission on Electoral College Reform, of which Freund was a member, recommended Sunday that the president and vice-president, running as a team, be elected by national popular vote with a minimum of 40 per cent required for election. If no candidate received 40 per cent, a national runoff election would be held...
Work like the Devil. To keep this vast establishment operating, Westmoreland heeds-and invariably exceeds-the advice he gives newcomers to Viet Nam: "Work like the very devil. A seven-day, 60-hour week is the very minimum for this course." Rising at 6:30 in his two-story French villa, Westmoreland does 25 push-ups and a few isometric exercises, usually breakfasts alone (his family, along with 1,800 other dependents, was ordered out of the country by the President last February, is now in Honolulu). At his desk by 7:30, he rarely leaves it before nightfall, even...
...seem distinctly unhappy-but the battle is on. Like the reward for saving, the cost of borrowing has shot aloft in response to the Reserve Board's action. The impact has fallen chiefly on businessmen; by last week almost every commercial bank in the U.S. had lifted its minimum rate on commercial loans ½%-to 5% or more. Interest rates on home mortgages jumped by at least 0.1% in many areas; in Chicago the typical rate climbed from 5½% to 5¾%. Auto buyers will begin to feel the rub next month-not from higher interest rates...
...savings spread out spottily across the nation from New York, increasing in complexity as it grew. Most big Manhattan commercial banks lifted their rates from 4¼% to 4½% on certificates of deposit-the most popular form of time deposit. They also began offering a wider variety of minimum denominations (generally $1,000 to $2,500) and time limits (six to twelve months) to broaden the appeal of C.D.s from corporations to individuals...
Predictably, these pressures produced demands for restraint by lenders and for more federal controls. The New York State Savings Banks Association urged the Federal Reserve to reduce the competition by establishing "guidelines" calling for a $25,000 minimum on commercial-bank certificates of deposit. Reserve Board Member Sherman Maisel cautioned bankers that raising interest rates on savings could prove "inefficient and dangerous." Nonetheless, the temptation seems likely to increase. It will take another three to six months before the full effect of the discount-rate increase filters through the complex U.S. economy...