Word: payments
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Dates: during 1950-1959
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...Many Headaches." McGinnis, 51, was derailed because stockholders were troubled not only by commuter complaints but also by financial danger signals ahead. "His lavish payment of dividends and his diminishing payments for maintenance made it certain that a crisis would arise," said Aetna Life Insurance Co.'s President Morgan B. Brainard Sr., who resigned from the board twelve months ago and unloaded substantial holdings of New Haven stock held by his company. Major stockholders, looking for a new president, tried to hire Werter S. Hackworth, president of the Nashville, Chattanooga & St. Louis Railway. Snorted Hackworth: "Too many commuters...
...loudest voice of all for easier money came from General Motors' Harlow Curtice. Answering critics of current auto-payment terms, Curtice said the down payment on new cars continues to average 40% of the price; the average installment is $80 monthly, and only two out of 100 are repossessed. Concluded Curtice: "The new high level of automobile credit is in keeping with the higher level of disposable income...
...clamor for some home-front expansion. The State Department, Ike said, needs an $89 million raise "to strengthen" its staff, to build a new wing on its main building in Washington and new embassies and consulates abroad. The new federal school-construction program (see EDUCATION) requires a substantial down payment on the $2 billion to be spent over the next five years, and the National Science Foundation needs a 156% raise (to $41 million) to finance basic research and bolster the nation's supply of trained scientists...
...where 100,000 people would work in a $300 million complex of aircraft, electronics, food-processing and packaging plants, with an annual payroll of $500 million. The details and timing were still undecided, said Zeckendorf grandly, but he and his backers had already plunked down $500,000 as down payment on half the land, hoped to start building this year...
...boom was credit; U.S. consumers went into debt at the fastest rate in history. Short-term consumer debt shot up to $36 billion, while long-term mortgage debt jumped to $88 billion, 380% greater than prewar levels. It was the year of the "no-no-down" payment mortgage (the builder pays the closing costs), the year when autos were funneled out with no money down, up to 42 months to pay. In Corpus Christi, Texas, movie houses even urged patrons to put admissions, popcorn and peanuts on the cuff, while in Omaha, one pet-shop owner went...