Word: refundability
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...floated in an "unpegged" market, i.e., the Federal Reserve is not committed to support the bonds at any fixed price. With the new $2 billion issue, Treasury Secretary George M. Humphrey hopes to raise $1 billion in cash - his first venture into the new-money market-and refund a like amount of shorter-term savings bonds due in the next few months...
...Treasury's new long-term issue was designed to 1) help relieve the U.S. of its constant sorties into the money market to refund short-term issues, and 2) provide a safeguard against more inflation by boosting loan rates all around and by tapping savings as they accumulate in life-insurance companies, pension funds and savings banks. The new bonds would also probably tap some money that would normally go into the stock market...
...group is also considering a proposal made by several Business School students that the University refund part of the board charges...
...fact that engineer Crawford proved himself an expert manager. He brought in able young men, gave them room to grow, encouraged initiative. New President Wright, for example, started in with a Cleveland law firm as a legal consultant to Thompson, soon won a $100,000 tax refund for the company. Impressed, Crawford took him on as his own assistant when he became president, gave him ever-growing responsibility...
Building on retailing's oldest precept, that the customer is always right, the Webbers established a host of services, including one of the most liberal refund systems in the world. If a Hudson's customer decides he doesn't like something he has bought, all he has to do is pick up the phone and say so; one of Hudson's 300 delivery trucks will come and take the merchandise back. Hudson's has been known to credit merchandise bought ten years before and never used. Last year, Hudson's actually sold more than...