Word: stockings
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Dates: during 1960-1969
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...many as 200,000 at Christmas time-surge through the store's three dungeon-like underground levels, fighting for everything from name-brand nylon panties at 39? a pair to a Russian sable worth $8,500 and a positive steal at $3,000. As the outlet for surplus stock from such fashionable stores as Saks Fifth Avenue, Neiman-Marcus and I. Magnin, the basement has become the happy hunting ground for Beacon Hill dowagers and Charlestown secretaries-all trading hip blocks with shoppers who regularly fly in from New York, Philadelphia, Washington, and as far west as Chicago...
...credit squeeze-if Congress passes a noninflationary tax bill and President Nixon can keep the fiscal 1971 budget in balance. Despite those enormous hedges, his comments marked a considerable change in tone from his October statement that the Nixon Administration "will not budge" from restrictive policies. The stock market reacted -perhaps overreacted-by scoring its strongest rally in eight months...
Making Breaks. He is just the man to do the shoring. When he left his post as general manager of the Packers to accept the Redskins' offer (of about 5% of the stock), the first thing Lombardi did was to lure Sam Huff out of retirement. A four-time All-Pro middle linebacker, Huff came back simply because "Lombardi is my kind of guy." Sam proved as rugged and mobile as ever. In the first game against Philadelphia, he came from nowhere to pick off a Norm Snead pass and lumber 18 yds. for a touchdown...
...peace hopes that they had held in the spring, and more recently by warnings of a forthcoming economic decline. The worst depressant in the market undoubtedly has been tight money. The market frequently falls before recessions and rises when they occur; thus a 1970 recession would not necessarily make stock prices fall further. But it will be hard for stocks to rally briskly until credit is eased. Economists generally expect that interest rates will taper off slightly?perhaps by 1% or a bit more?as production and demand slacken in the year ahead, but that they will stay fairly close...
Faith in the free market has caused Friedman to condemn many Establishment institutions as monopolies. His targets include the New York Stock Exchange?in his view, a brokers' commission-fixing cartel?and the public-school system. He contends that the Government should issue vouchers that parents could cash at any school they choose for their children. This, he says, would encourage the founding of independent schools to compete with public schools, particularly "in the ghettos where schooling now available is extremely unsatisfactory." He believes that men who work as leaders in the free market should devote their full energies...