Word: nationalizers
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Dates: during 1960-1969
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...price rises that reached an annual rate of 4.7% in December. It is particularly burdensome for the poor, who are least able to adjust to the ever higher cost of goods and services. By making U.S. products costlier and less competitive on world markets, it has also hurt the nation's bal ance of payments. Inflation's grip is so tenacious that it will undoubtedly take all of the Government's weapons and will to curtail it for any sustained period...
...Last week a subsidiary of American Telephone & Telegraph issued a Triple-A bond with a 7% interest rate, but found few takers even at that rich yield. New York City has chosen to postpone some bond offerings altogether rather than pay so much for money. The nation's banks are expected to increase their loans by only $25 billion this year (to $418 billion), compared with last year's record expansion of $39 billion...
...nation's biggest city, the only thing higher than the buildings is the cost of renting a few square feet of space in them. When leases expire these days on apartments not subject to rent controls, landlords throughout New York City are demanding rent increases averaging 26.5%. In Manhattan, rents have been rising an average of 31%, and "horror case" increases of 60% are not unheard of. On top of the boosts, many leases now provide for "automatic" raises of 5% or more a year and further hikes whenever real estate taxes rise. Some landlords offer only two-year...
...scramble to beat a zoning-law deadline, they built an excess of apartments and filled them by offering rents that were fairly reasonable by Manhattan standards, as well as three-or four-month rental "concessions." Now there is a desperate housing shortage. While the rental vacancy rate for the nation is 5.4%, it is 1.2% for New York City. The landlords, hardly a charitable lot, can get together fairly easily and exploit the shortage because 250 real estate firms own 80% of the city's 600,000 noncontrolled apartments...
...half-serious flights of fancy, humorists have lately envisioned an economic future in which International Everything, Inc. and about a dozen similar finance-manufacturing-retailing combines take over half of the nation's business. Corporate consolidation has a long way to go to reach such extremes, but it is certainly moving in that direction at an accelerating speed. Never before have U.S. companies been caught in such a powerful and persistent tide of mergers, raids and takeover attempts. The volume of mergers doubled last year, when firms paid a record $43 billion-mostly in securities-to acquire...