Word: stockely
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Dates: during 1970-1979
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Unexpectedly, the deeply indebted man, who is one of the Government's most powerful economic policymakers, was also in trouble in the Senate. Lance had asked for more time before he had to sell his 200,000 shares of National Bank of Georgia stock (TIME, July 25), and it had seemed assured that the Senate Governmental Affairs Committee would grant the delay. But last week, after newspapers covered Lance with the appearance of new improprieties, the committee stalled and invited him to testify this week. That forced Lance, as Tennessee Democrat James Sasser put it, "to twist...
...Lance had borrowed $2.7 million from Manhattan's Manufacturers Hanover Trust to buy 21% of the stock in the National Bank of Georgia (NBG). It was to refinance this loan, and to repay other debts, that he sought his $3.4 million loan late last year...
...stock plunged to $6 a share, and the company gave every appearance of being a financial basket case, rather like the city it served...
...earnings turnaround: Con Ed's net income rose by 55% last year, to $301.4 million, al-though revenues grew by only 18%, to $2.9 billion. With Con Ed shares now at about $23 and the company in strong shape financially, some Wall Street brokers are again recommending the stock...
...that matter, do the Europeans themselves. American officials do not like the term, notes Paul Baudler of the U.S. Chamber of Commerce in Frankfurt, "but if you talk to a German banker, he'll talk about 'flight capital.' " A long list of gloomy economic realities -slumping stock values on European exchanges, high unemployment rates, the rise of left-wing parties and the inability of liberal, middle-of-the-road governments to deal effectively with these problems-has prompted a chorus of Spenglerian gloom from European business leaders...