Word: sol
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Brooker may prove just what Ward needs. At least, he was trained in the right place: Sears, Roebuck & Co., where he rose to a vice-presidency for manufacturing before leaving in 1958 to head the Sears-affiliated Whirlpool Corp. But his appointment helped kill the enthusiasm of Sol Cantor, president of New York's discount-minded Interstate Department Stores, for a previously planned merger with Ward. Cantor and other Interstate brass were miffed when Ward's Chairman John Barr did not check the selection of Brooker with them...
Among the Savages. Beltran accepted the job with a wry comment: "Like missionaries who go among the savages, we must be prepared to be eaten." He took over at a time when the currency presses were speeding up, the sol was slipping down, and foreign debts were climbing. He clamped on an austerity that stabilized the economy so impressively that the U.S. has pumped $79 million worth of loans into Peru. Beltran anticipated the Alliance for Progress by channeling funds into "social" projects-mainly housing. He tightened tax collections (although the maximum tax is still a painlessly low 30%), tried...
...processional based on Heinrich Isaac's La Mi La Sol exhibited the lavish potentialities of cornetto, sackbut and shawm. The intricate syncopation of this piece is akin to the spirit of many of Gabrielli's horn canzone...
...Eager to break into discount selling, giant Montgomery Ward & Co. made a proposal to gregarious Sol William Cantor, 50, president of the 63-link Interstate Department Stores, whose annual sales rate has climbed from $90 million to $175 million since it entered discounting in 1959. With Wall Street's Lehman Bros, playing marriage broker. Ward's intends to pick up Interstate in a $50 million stock swap. The deal makes eminent sense to Manhattan's Cantor, who gives plenty of local autonomy to managers of Interstate's 42 standard department stores, but holds "a tight rein...
...Prado is relatively secure today because of a fortunate stroke of politics; he named Beltrán as his Premier. Himself a conservative with the blood of conquistadores in his veins, Beltran stopped the money presses. He collected neglected taxes, trimmed excess bureaucracy, encouraged exports, curbed imports. The sol steadied, the balance of trade shifted to favorable, debts were paid. Progress is still slow, but enough projects for housing, road building and agrarian reform are taking shape to give Peruvians hope-and to warrant businesslike consideration of a Prado request last week for $29.6 million in emergency loans from Kennedy...