Word: money
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Dates: during 1950-1959
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...Money. Many a consumer who sets out to buy a house or TV set and many a businessman who embarks on plant expansion or modernization is discovering that it is harder to get the money he needs to do it-and the money costs him more. As the economy boomed, the supply of money over the past few months has got steadily tighter. For how and why this happened, and what it means to the economy, see BUSINESS ESSAY, Tighter Money...
...Management Field, headed by Arkansas Democrat John McClellan. The McClellan committee uncovered plenty of corruption in other unions, notably the Bakery and Confectionery Workers and the Operating Engineers. But among U.S. labor unions, the International Brotherhood of Teamsters, Chauffeurs, Warehousemen and Helpers of America ranks first in size, money, power and sheer, shocking magnitude of corruption...
...good terms with such top Capone gang chieftains as Joseph Glimco and Paul ("The Waiter") Ricca. Glimco, with a record of 36 arrests, including two on murder charges, became a trustee of a Chicago Teamster local. In 1956, when Ricca was in trouble with the law and needed money urgently, Hoffa's own Local 299 and another Detroit local headed by Hoffa Pal Bert Brennan, now a Teamsters international vice president, jointly purchased Ricca's home in Long Beach, Ind. for $150,000. Appraised value: $85,000. Hoffa explained that the two locals planned to turn the house...
...Range v. Money. The exotic-fuel program was a casualty of Defense Secretary McElroy's drive to cut back all "marginal" defense work in an all-out effort to pare down the 1961 budget. It put an end to present hopes for boron-powered planes that would get 40% more energy out of a pound of fuel, thus increase their range (or speed) without adding weight. The Navy has already spent $122 million in the program, the Air Force another $110 million. The first group of 20 B-70s with boron afterburners would have cost $3.5 billion...
...Instead of promoting state enterprises, let's foster the private side." As head of the Development Loan Fund, he intends to stress private enterprise more than the fund has done, give more loans to foreign businesses instead of governments. He also hopes to get more money from Congress. Right now the fund has $53 million to give out in loans, but the loan applications total $1.4 billion...