Word: run
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Dates: during 1960-1969
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...minimize start-up headaches, banks now tend to join one of two major groups. The largest group is run by San Francisco's Bank of America. Its decade-old BankAmericard, available in 44 states, is interchangeable with Britain's Barclaycard, Canada's Chargex and Japan's Sumitomo. The other is Interbank Card Association, organized by eight banks in 1967 and now operating in 41 states; its card is also recognized in Europe. BankAmericard insists on certain credit standards, but Interbank lets members decide "creditworthiness" themselves...
...National Coal Board, for example, has been so slow to close inefficient pits that it requires immense government subsidies; it lost $24 million in fiscal 1969. The railroads have run a deficit of around $365 million in each of the last two years. The utility industry was pushed into an excessive expansion program and has had to raise electricity prices. Now the pressures of hard politics threaten to make a similar financial mess out of British Steel Corp. (BSC), the company that the government was counting on to prove that nationalization could really work...
...investment in 1966, could not acquire the capital to build the modern mills needed to compete with Japan and the U.S. The Laborites induced Lord Melchett, a Tory banker and philosophical opponent of nationalization, to accept the chairmanship of BSC on the promise that he would be allowed to run it in a strictly businesslike fashion. He quickly ran into political roadblocks...
...mollify opposition to nationalization, the government divided BSC into four geographical regions, each run by an executive of an old private steel company. The regional managers tried to maintain their operations as separate entities and ignored Melchett's efforts to exert centralized control. One manager, for example, announced an ambitious investment plan without even telling Melchett about it. Lately, however, Melchett has got a firm enough grip on BSC to draft a long-range modernization program...
...Williams' account, all suffer from role fatigue-the sort of exhaustion afflicting actors in a play that has run too long. One of the whites says: "I think I am very tired of being a Jew." Williams, clearly, is very tired of being a black. He seems to assume that his characters, whether they know it or not, are stifled as much by the kind of ennui that immobilizes men trapped in situations they cannot control as by the terror of their predicament...