Word: seven-year
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...year their transactions through the Iron Curtain amounted to $3 billion-and they are scrambling for more. The new argument, which divides governments and stirs the competitive instincts of businessmen, is what credits should be granted to cover all this trade. Pressure is mounting for Western European governments to trust Communist countries with easy, long-term credit instead of demanding, as in the past, repayment in five years or less. Despite U.S. and West German protests, Britain and Italy have already given in to long-term credits, and the French government last week appeared ready to back a seven-year...
...five years. Over the years, countless exceptions were made, but never to Communist countries. Then, in June, the British government agreed to guarantee a twelve-year credit of $10 million to Czechoslovakia for a fertilizer plant-and that set the precedent. Since then, Britain has opened negotiations for a $112 million, 15-year credit so that Russia can buy a prefabricated chemical plant. Italy granted a ten-year credit to the Czechs for a metal-galvanizing plant. Not to be outdone, a powerful consortium of French banks recently arranged to grant the Soviets $380 million worth of seven-year credits...
Targeting Missiles. That is the only joke on the Street about Control Data, whose fast growth and aggressive stance have made it a favorite glamour stock. Last month the firm made a 3-for-2 stock split, the second in its seven-year history, and announced that new orders for June, the latest month calculated, reached a record $61 million. Needing space for its lusty growth, which boosted sales to $100 million last year, Control Data last week settled into a new three-building headquarters in suburban Minneapolis, which replaces the converted paper warehouse in which it has operated since...
...Harold Macmillan, who resigned as Prime Minister last fall after similar surgery at a similar age. But at week's end it was clear that Charles de Gaulle had no intention of giving up the rule of France, nor of altering his apparent decision to seek a second seven-year term in the 1965 elections...
...Tufts Trustees' Bylaws, the maximum probation period before tenure is six years, and Sayre has been at the Medford campus since 1957. The administration, however, based its action on a sliding scale of tenure explained in the Faculty Handbook. Under these rules, Sayre would have to undergo a seven-year probation period since his arrival at Tufts as an assistant professor, the title he still holds. But the Trustees have never offically approved the sliding-scale guidelines...