Word: nonprofitability
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Default Rate. In addition, the Government has reinsured student loans of about $4.9 billion guaranteed by 25 states, the District of Columbia and one private nonprofit agency; Washington reimburses the states for 80% of any money they lose paying off defaulted loans. To date, the Government has lost nearly $400 million on the two programs; states have apparently lost almost $47 million more. And the losses are mounting; this year the default rate on student loans guaranteed by Washington is running at a startling...
...with any realistic answer to the city's dilemma. If Anaconda were to abandon its operations in Butte and lay off its 3,000 employees there, the economic impact on the city would be devastating. Searching for a solution, the leaders of twelve Butte companies formed a nonprofit organization to look into the possibility of relocating the threatened business district, and even found three suitable sites on the flatlands south and west of the city. But they have been unable to figure out how to raise the $115 million or more that it will cost to make the move...
...everything about TM except how to go about it. Readers are referred to the 397 meditation centers across the country that offer a seven-session course in the TM fundamentals for $125 ($65 for college students). Following the procedures set up by the Maharishi Mahesh Yogi, founder of the nonprofit TM movement, new recruits are initiated in candlelit, incense-filled rooms. Trained teachers assign each student a personal mantra-a meaningless sound that must be kept secret. Students are taught to close their eyes for 20 minutes twice daily, focus on their mantra, and let their mind "float and float...
Last spring a venerable steam locomotive pulling 25 red, white and blue cars chugged out of Wilmington, Del., on a 17,000-mile, two-year Bicentennial tour of the U.S. It was the American Freedom Train, a private, nonprofit project financed through $5 million in gifts from five U.S. corporations and billed as "a birthday gift to the American people." The train carried a somewhat indiscriminate array of American artifacts: George Washington's copy of the Constitution, the agreement for the Louisiana Purchase, Will Rogers' lariat, Judy Garland's dress from the Wizard of Oz and Kareem...
...from 1966 through the end of February 1975, 45.7 million foreign and domestic autos were called back for inspection or actual repair. But in 1974 alone, 25 million product units other than cars were recalled, according to E. Patrick McGuire, marketing management research director of the Conference Board, a nonprofit research institution partly financed by businesses. He uses a Government definition of recalls that includes not only actual returns of products for refund or replacement but also repairs carried out in consumers' homes...