Word: money
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Dates: during 1960-1969
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Despite the extravagant quality of Delacorte's "gift to the city," the city was somewhat less than grateful. The New York Times cited crucial needs that the money might have better served, instead of going "literally down the drain," and wrote off the donor as "the wrong-way Corrigan of New York philanthropy." Delacorte paid no mind. "The fountain," he said last week, "is my greatest landmark...
Delacorte, a self-made millionaire, has six children and 20 grandchildren who are well-provided for, he says, in his wife's will; he himself believes that "leaving money to a child hurts more than it helps." The controversy over his fountain notwithstanding, he plans to continue his donations to the city he loves. "I was born and raised in New York," he says, "made my money in New York, and now I want to give my money back to New York...
...them buys a color TV set, but mostly they are socking away their new wealth and trying not to think too much about it lest it give them high-flown ideas. "I see things through lower-class eyes," says John. "If you sit around and think about all that money, you can never write a song about where you came from...
...Leaping from venture to venture, merging and consolidating, he expanded into railroads, buslines and publishing until at one point he was said to control 115 companies spread from Canada to South America. Estimates of his wealth ranged up to $600 million, but Murchison never bothered to total the figures. "Money is like manure," he once said. "When it stacks up it stinks, but when you spread it around it makes things grow...
Increases in interest rates have usually been tolerated as a necessary evil in the fight against inflation. Last week, after announcing the fifth rise in the prime rate since December, U.S. bankers were greeted by an uncommon backlash. Criticism of the move came not only from the perennial easy-money advocates but from other responsible sources. Their contention was that the bankers have been just too cavalier about the cost of money...