Word: spreading
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Dates: during 1970-1979
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...Cleveland Trust made extension of credit conditional on the sale of the city-owned electric company to its private competitor. According to the mayor, the proposed sale called for the private company to pay the city about one third of the electric system's real value, and to spread payments over a 30-year period without interest. Kucinich refused, and Cleveland Trust declined to roll over the loan. As a result of what he calls "a strike by capital," the city went into default...
More than that, in midweek a rumor flashed round the world: Brezhnev was dying or, indeed, was already dead. As had occurred half a dozen times in the past five years, the story spread that the Soviet leader had succumbed to one of his many ailments, which allegedly include emphysema, cancer of the jaw, heart disease, gout and leukemia. Kremlinologists pointed out that Brezhnev had not been seen in public since his return to Moscow two weeks ago from a state visit to East Germany. There observers had been shocked by the Soviet leader's shuffling walk, slurred speech...
...days went on and the panic spread, Western Union hired fleets of taxis to help deliver margin calls to speculators. It was common to see people rushing from their banks to their brokers with stock certificates and bonds they had just taken from safe deposit boxes. Insurance companies were besieged by people wanting to cash in or borrow on their policies...
...music business dropped off earlier this year and economic panic spread, investments of both high hopes and hard cash were being made in Tusk. Like the Eagles, Fleetwood Mac was the kind of "monster" group that was expected to pull the business out of the doldrums. Both records, indeed, seem well up to such heavy hauling, especially since the runaway success of In Through the Out Door, Led Zeppelin's album of surprisingly graceful power, has cleared the road and got rock fans to reach for their wallets again...
...says the group includes blue-collar workers, environmentalists, citizens concerned with the high cost of energy, disgruntled shareholders, and anti-nuke people spread out across the six states in which the American Electric Power Company operates power plants. The coalition is "a broad based group with a common concern for the direction of the utility's development," Austin adds...