Word: spun
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Dates: during 1960-1969
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Despite the risks, it can be immensely profitable. Adman Marion Harper Jr. became head of McCann-Erickson in 1948 at 32, spun the outfit into the vast Interpublic Group (advertising, public relations, market research) and racked up billings of $700 million a year by last fall. When Interpublic went deep into debt, he was eased into a powerless chairmanship (TIME, Dec. 15). But when he was eased out altogether two weeks ago, Harper was not exactly out of pocket. Interpublic was reported to have bought back his 100,000 shares in the company, worth $2,200,000 at book value...
...Tucker telephone," a form of electric-shock torture used by James Bruton, former superintendent of the Tucker prison farm. A prisoner was strapped to a table. Wires leading from an old-fashioned crank telephone were attached to one of his big toes and to his genitals. The crank was spun, and the victim got a series of electric shocks...
Government itself spun much of the cobweb over British banking. It now insists that U.K. banks limit the total amount of overdrafts by their customers, forces them through other restrictions to lend no more than 55% of their deposits. Fifty years ago, the British Treasury put an end to an earlier wave of bank mergers by threatening legislation to control them. Backed by the Bank of England, that anti-merger doctrine persisted until last spring. Then the Labor government's Prices and Incomes Board called for a new policy, complaining that British banks had grown stodgy and uncompetitive...
Last week Columbia's production line spun out Dylan's first post-accident LP. He had shown up at Columbia's Nashville studios in December only after exacting a promise of top secrecy. And if the pressagents were quiet, the recording sessions were quieter still. Dylan, 26, has abandoned the electric guitar and big-noise backing that thundered out from his last few albums, and has returned to his earlier acoustic-guitar-plus-harmonica framework...
Under Kidder, Peabody's design to refloat Lebanon's most important bank, the airline, real estate and other holdings will all be spun off into a separate investment company. Large depositors, including the U.S. Agriculture Department's Commodity Credit Corp., which had $22 million in Intra as an export loan covering surplus crop shipments, will be paid off in stock in the new company. Investors with less than 250,000 Lebanese pounds (about $80,000) in the bank will be able to get half their money back within the next three years, will receive the other half...