Word: mutuals
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Dates: during 1960-1969
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...khamsin desert wind, no one wanted the battle to start. From the beginning, the crisis had been the product of massive miscalculations. Nasser, who has repeatedly and publicly warned that the Arabs are not yet strong enough to take on Israel, made the first mistake by signing a mutual defense pact with his fellow leftists in Syria. His intention was to brake the schemes of the Damascus regime to precipitate war with Israel at any cost, but the Baathists proved impossible to restrain; they kept up irksome terrorist attacks over the Israeli border. Stung by these attacks, Premier Eshkol made...
...pleasure is mutual. New York Times Critic Walter Kerr wrote: "He deserves a Tony, if not the Nobel, for expertise in a special nose-bashing category." Richard Lester, who directed the Beatles' movies and three of Crawford's, last year called him "England's answer to Jack Lemmon." Last week Lester corrected himself, saying that "Michael is no one but himself now, and I think he'll be one of the great, great stars." Veteran British Actor Peter Bull, who is featured with him in Black Comedy, says: "There is no limit to what...
...Friendship, comprehension and mutual aid" is the high-minded goal of France's Fraternity of Abraham - quite possibly the world's only interfaith organization that includes Moslems and Jews as equal partners with Christians...
...their part, insurance companies have only limited control over most accident costs. Says Edward B. Rust, president of State Farm Mutual, the world's biggest auto insurer (annual premiums: $940 million): "The insurance company is basically only the scorekeeper." So high has the score mounted that over the past decade the insurance industry has suffered auto liability underwriting losses (the amount by which claims and expenses exceed premiums) of more than $1.1 billion. Only when investment income is included in their book keeping do auto insurers generally show a profit...
Unconcerned, the Fed's chairman delivered another lecture, this one against speculative trading by institutions. "Increasingly," said Martin, "managers of mutual funds, and portfolio and pension-fund administrators are measuring their success in terms of relatively short-term market performance. In effect, they set a target on a growth stock, attain that target, unload, and then seek other opportunities for quick capital gains." Given the size of their buying power, said Martin, such activity "may virtually corner the market in individual stocks," at the least cause undesirable price fluctuations. "Practices of this nature" said he, "contain poisonous qualities reminiscent...