Word: short-term
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...biggest acquisition of all was in 1979, when it paid $1.3 billion, or 40% over market value, for C.I.T. Financial Corp., a consumer loan and insurance firm. To raise the money, the company had to borrow heavily on the commercial paper market, where big corporations sell multimillion-dollar short-term lOUs to banks and other institutional investors...
...policies can be adjusted in the short term or intermediate term so as to increase endowment capital value at the expense of current income or to increase current spending at the expense of asset growth. Particularly in times when inflation and current rates of return are both at high levels, there are pressures to address the erosion in the value of endowment income which inflation causes by distributing a larger fraction of the high earnings which result from high interest rates. If high rates of inflation and of current income prove to be short-term phenomena of similar duration, then...
...raise foreign exchange to make the interest payment, but by early December it was able to assemble only $150 million. Immediately after martial law was declared, Marian Minkiewicz, president of Bank Handlowy, the nation's foreign trade bank, sent wires to 23 major commercial creditors pleading for a short-term loan to keep Poland from toppling into technical default...
...banks and savings and loan associations are not yet saying precisely what the return will be on their I.R.A.s when the new program begins next month. They are waiting to see what happens to the general level of interest rates in the economy. But some institutions are offering hefty short-term bonuses to entice customers to sign up ahead of time. In Los Angeles, Republic Federal Savings will pay interest at an annual rate of 20% for the rest of the year to savers who open accounts early. The deposits do not become tax-free I.R.A.s, however, until January...
...post. In themselves, Allen's alleged transgressions amounted to a very minor scandal indeed. His impressive title, and prominence on White House organization charts, substantially exceeded his real influence. The reasons for his temporary exit had nothing to do with the Administration's long-run goals or even short-term tactics. Indeed, the conflicting and confusing statements put out by the White House damaged the Administration more than anything Allen himself...