Word: sharing
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Dates: during 1960-1969
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Even a multimillionaire needs a little luck. Ohio Sportsman John W. Galbreath has had his share: his Pittsburgh Pirates won a World Series in 1960 when Bill Mazeroski hit a home run in the last inning of the last game, and his Chateaugay won the 1963 Kentucky Derby at long-shot odds of 9-1. Galbreath's luck seemed to sour after he paid $1,350,000 to lease the undefeated Italian stallion Ribot for stud duty, improving the stock at his farm in Lexington, Ky. When his original lease ran out last year, about all Galbreath...
...Ridgeway's surprise, someone was listening. When Congress passed its water-pollution bill last year, the New Republic suggestion was written into law. Out of a reporter's complaints, the Water Pollution Control Administration was born. Ridgeway himself disclaims more than a minor share of the credit...
...production unsold, against a current industry average of 45 days. At the corporation's annual meeting next week, stockholders will hear about slightly lower sales ($991 million in 1965 v. $1 billion in 1964), greatly reduced earnings ($5,000,000 v. $26 million), and a shrinking share of the auto market (currently 3% v. a high of 6.42% four years ago). Detroit is seriously worried that unless the company does something drastic to restore its health, American Motors will be on the critical list within the next few years. A.M.C. is a $1 billion corporation, which would seem large...
...Share the Burden. Freedom National prospers because it is Harlem's first Negro-chartered, Negro-run commercial bank. On 125th Street, people refer to it as "my bank," a significant phrase in a neighborhood where most fixed property has always been controlled by whites. Freedom National's chairman is Jackie Robinson, a Negro folk hero who holds his position mostly for his name's sake. Operative boss is President William R. Hudgins, 56, who came to the new bank from a small savings and loan association. Hudgins was born in Virginia but has lived and worked...
...that these banks are quick enough to make short-term, high-interest loans on such repossessable goods as TVs and automobiles, but are notably cool when it comes to real-estate and small-business loans that would help Harlem more. "The other institutions," says Hudgins, "are not carrying their share of the burden. They do not relate themselves to the com munity." Freedom National makes consumer loans in competition with the five big banks, but real-estate and small-business loans now constitute 50% of its loan portfolio. Another Hudgins complaint is that "the middle-class Negro, the doctor, dentist...