Word: philadelphia
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Dates: during 1980-1989
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They traveled to Philadelphia in November via the Musselman house and Atlantic City, then met the football team at the airport when the squad arrived to play Penn for the Ivy League title. They exchanged high-fives with Coaches Joe Restic and Mac Singleton, even waved a banner--but, unfortunately, to no avail...
...West Philadelphia, a crane and bulldozer leveled the charred ruins of the neighborhood destroyed when police bombed a cult group's stronghold. In city hall, Mayor W. Wilson Goode named a commission to assess his administration's performance in the crisis. The panel is led by William H. Brown III, a former chairman of the U.S. Equal Employment Opportunity Commission, and includes former Watergate Prosecutor Henry S. Ruth Jr. Said Goode: "I tried very hard to find people with an independent thought process. I want the truth." The same day, Managing Director Leo Brooks, who helped direct the assault...
SEEKING DIVORCE. Joe Frazier, 41, former world heavyweight boxing champion and unretiring purveyor of the smokin' left hook; and Florence Frazier, 42; after 23 years of marriage; in Philadelphia...
Although better known for its TV sets and toasters, GE is the sixth-largest U.S. defense contractor, receiving 20% of its revenues from military work. In 1980 the company's space-systems division in Philadelphia was suffering cost overruns on a $47 million project to refurbish Minuteman missiles. Because GE had agreed in one contract to a fixed price for part of the work, some of the added costs could not legally be passed along to the Pentagon, and the company faced possible losses. To cut down on the red ink, GE managers decided to shift the overruns to different...
...accounts, preferring to deal with businessmen and property owners. As a result, philanthropists set up savings banks for working people. In his book Savings Banking, Franklin Ornstein, chairman of Central Federal Savings in Long Beach, N.Y., traces the origins of the industry to the formation in 1816 of the Philadelphia Saving Fund Society, which was started by 25 individuals who chipped in $10 each to get it going. In the early days, savings banks invested their deposits in Government and state bonds...