Word: nationalizes
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Dates: during 1970-1979
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Still Weak. The drop involved both short-and long-term rates. Two of the nation's ten biggest banks have now cut their prime rate on business loans by a quarter-point, to 6¼%-the lowest since February 1973. The rate on 90-day Treasury bills last week slid to 4.6% from 4.8% the week before, and General Motors Acceptance Corp. trimmed slightly the interest rate it pays on commercial paper (corporate lOUs) that it buys. Heartened investors flocked into the bond market, bidding prices up and interest rates down. For example, Cleveland Electric Illuminating Co. sold...
Every year at this time, the nation's retailers hope that their cash registers will start ringing up glad tidings of heavy sales. But how to make those expectations come true? One way is to turn big department stores into shoppers' lures-places where customers will go to find one item, then linger to buy others. That takes design, and one man with the kind of designing eye that merchants appreciate is a 36-year-old architect-artist named Kenneth Walker. He is something of an iconoclast, merrily discarding what he calls "formula work-all those fancy chandeliers...
...result was so bright and tasteful that other merchants noticed it, and Walker suddenly found himself in demand. He now employs 35 people and does more than $15 million worth of store projects a year. In the U.S., his chief clients are various divisions of Federated Department Stores, the nation's largest department-store chain; he has also done jobs in Venezuela, Canada and Puerto Rico...
...Atlantic Richfield in the newspaper business is Robert O. Anderson, 59, Arco's chairman. A part-time cattleman (his 1 million acres of ranch land make him one of the nation's largest individual landowners), philanthropist and self-styled student of social problems, Anderson is chairman of the Aspen Institute for Humanistic Studies, a social science think tank with offices round the world...
This week Morgan will buy his own journal of ideas, The Nation, America's oldest continuously published weekly (founded in 1865). The magazine has always been slightly to the left of American journalism, and often out in front. The Nation blew the whistle five months before the event on CIA preparations for the 1961 Bay of Pigs invasion-to little avail-and published the first article on automobile safety by a young lawyer named Ralph Nader. Publisher James J. Storrow Jr., who has owned the magazine since 1965, put it on the block early this year, after the retirement...