Word: paye
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Dates: during 1960-1969
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Black schools in Alabama and Mississippi, without exception, are ramshackle, decaying, understaffed and overcrowded. Alabama spends about $1500 per year for each white student in school. That's not much, but it's more than twice as much as the state pays for black students. Things are worse in Mississippi, where two years ago the state board of education coughed up a little less than $250 to pay for the education of each black student in the black schools...
...past seven years, elusive Industrialist Howard Hughes and Trans World Airlines have been tangled in a complex legal battle. The conflict dates back to late 1960, when Hughes, in return for $165 million in loans to pay for TWA's first jets, had to surrender his 78.2% ownership of the airline to a voting trust controlled by the lending banks and insurance companies...
...appointed by a New York district court to assess the amount of the damages, accepted most of TWA's claims that Hughes' procrastination in securing jets for the airline had severely crippled its ability to compete in the early 1960s. Brownell set the sum that Hughes should pay TWA at $137.6 million. His report will now go to Federal Judge Charles Metzner, who is expected to in corporate its findings into a final judgment that will probably be handed down within the next two or three months...
...lawyers will probably appeal any adverse court judgment in hopes of getting a reduction or a dismissal of the damages. Until two years ago, a damage settlement would have hurt Hughes hardly at all. At that time, he still owned 78.2% of TWA and would, in effect, have been paying the assessments largely to himself. But, in a daring gamble that he would not have to pay damages, Hughes sold his TWA shares for $546.5 million in 1966. Thus, if he must now pay up, the money will come out of his millions with which he has lately been acquiring...
...doing things right. "I was brought up to be polite," she says complacently, "even if it killed you." Living in a world of Satsuma bowls and family portraits, she nonetheless bravely jousts with the local mineowners, predictably besting them all. Through a shrewd financial maneuver, she forces them to pay their delinquent school taxes. Conveniently deaf, socially deft and totally domineering, she admits to only one slight fear-of hospitals. But she rises to any occasion, especially if it turns out to be a family funeral...