Word: pension
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Dates: during 1960-1969
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...stock-market decline is hitting more people harder than any in history. At least 21½ million Americans directly own corporate shares; another 100 million indirectly have a stake in the market through their holdings in mutual funds, pension funds, profit-sharing funds and the like. Last week the Dow-Jones industrial average tum bled again, by 30 points to 744, lowest since 1963. So far this year the market has plunged 25%, causing a loss of $120 billion, or an average of $2,000 for every U.S. family. These are euphemistically called paper losses - but in many instances they...
...veritable Vic Tanny's West. Released 22 months ago, after serving half of a five-year stretch for income tax evasion, Beck boasts that "I came out in better shape than I went in." Since the kind of Gemiitlichkeit that goes with his $50,-000-a-year Teamsters pension was out, he picked up "the exercise habit" in the hoosegow, made it a point "to be out on that exercise track every morning." Now in his Seattle pad, Beck can't shake the stir-born routine of stretching his legs without going anywhere, so he's bought...
...have the money to set up a new home. With no private income, Illia had barely managed to get by on Argentina's parsimonious presidential salary of $500 a month (plus $370 in living expenses). And out of office, he was too proud to apply for the presidential pension, which any how amounts to a mere $14 monthly...
...people (more than half of them women) own stocks in their own right. Another 3,600,000 participate in the market through shares in mutual funds, which themselves own $35 billion worth of common stocks. Millions more are linked to the stock market by company profit-sharing and corporate pension plans; pension funds alone have $39 billion, or 55% of the present market value of their assets, invested in common stocks...
Dead Putsches. The most amazing fact about the whole convention was that Jimmy Hoffa continued, despite everything, to exert his iron hold on the Teamsters. After all, Hoffa was convicted in 1964 for conspiracy and fraud in the handling of Teamster pension funds. That year he was also found guilty of attempting to suborn a jury in a 1962 trial in which he was accused of accepting a bribe from trucking operators. Hoffa was sentenced to 13 years in prison, remains free while the cases are under appeal.* He has been ostracized by the A.F.L.-C.I.O., been hit by Government...