Word: risks
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Dates: during 1960-1969
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...Negro club he promised: "We're going to enforce the law so that it hurts. I don't want any riots in my town." He came up with a plan to economize by selling an obsolescent municipal power plant and a little-used park. At risk of alienating Negro friends, he came out against a civilian review board to investigate allegations of police brutality...
...itself. Bringing competent new blood into the system is more essential--and thus more difficult--in the higher reaches of the hierarchy. Traditionalists like Fitzgerald resist outsiders and outside help like Harvard. Calling in the experts implies disloyalty to the Cambridge system for them. Duehay is willing to risk looking like an interfering academic, to insist that Cambridge go after the best men available for the jobs that fall open and new jobs that are created. And he is willing to stage political theatrics to block proposed appointments like Good...
Thus, the defense business takes on a non-market character. The WARP found that the government relieved defense firms of economic risk, and played a correspondingly larger role in the managerial decisions...
Most of the loans were Government backed FHA or VA mortgages. Admits Ahmanson cheerfully: "We were paid a terrific price for virtually no risk." On top of that, Home bought up vast chunks of land that it is still selling at a hefty markup to builder-borrowers. With deft timing, Home cut back on loans for tracts of new houses before the great Southern California glut of 1965 and switched to apartments. This year the association itself is building three sizable apartment houses...
...owner of a small insurance company, he began dabbling in the stock market in his teens, ran up his $20,000 grubstake by age 18. He moved west after his father's death, started selling fire insurance, and soon hit upon the idea of concentrating on the low-risk residential side of that business, especially on foreclosed properties (which in those days required a new policy). Thus the Depression made him rich. "I felt like an undertaker," Ahmanson once remarked. 'The worse things got, the better they were...