Word: saab
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...clan, young, affluent professionals are partial to particular brands of sneakers (Reebok) and cars (Saab). Recently the group discovered its own mortgage. The 15-year, fixed-rate home loan is favored by married couples in their 30s and 40s who together earn $60,000 or more. Virtually unknown a year ago, this new form of financing now accounts for more than 14% of all loans made by America's largest mortgage bankers...
Remember what the yuppies did for sales of Saab, Cuisinart, Rolex and Burberry raincoats when those products became their symbols? Now it is the turn of the sneaker. The young urban professionals have their own: Reebok, a pricey ($30 to $60), soft-leather shoe that comes in six colors and 40 styles, including a popular high-top model. Says Edward Hurley, an assistant manager at an Athlete's Foot store in New York City: "All other shoes have been forced to take a back seat to Reeboks. It's the season's hottest shoe." He sold 700 pairs last month...
...Leila M. Saab...
...retaliation, perhaps, the Druze-owned Summerland Hotel was bombed last week, killing six and injuring 20. By striking at the hotel, the bombers attacked a symbol of Beirut's will to endure; Israeli shells nearly wrecked the complex during last year's war, but Owner Raja Saab rebuilt it in five months at a cost of $10 million. The hotel and its beach club became a gathering place for all religious factions, a placid oasis in a devastated terrain. The Israelis also had reason to note an irony in the violence last week. For the first time since...
...Volvo expects to sell (73,000) during all of 1982. Still, with models that range in price from $12,000 to $20,000, Volvo has succeeded in skimming some of the luxury cream off the automotive market, along with its prospering high-priced competitors Mercedes-Benz, BMW, Saab and Porsche. Notes Analyst David Healy of New York's Drexel Burnham Lambert: "Only the affluent can consider buying cars now. To them money is no object...