Word: trusts
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Dates: during 1970-1979
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...late 19th century buildings, property values in the 74-acre district have risen 450%. There is another fringe benefit: old buildings, unlike today's unvaried glass and steel boxes, are visual reminders of a city's individuality. "They are friendly structures," says Michael Leventhal of the National Trust for Historic Preservation. "They have detail and lend a sense of history and precedence...
...Brain Trust. Reporting on his first 100 days as leader, Wallace, 41, spoke for 3½ hours while protected by a phalanx of 100 Muslim guards. To underscore the new tolerant line, the Muslims had invited a host of white civic and church leaders to the rally, although few showed up. Since Wallace's speech included several appeals for white money, the Muslims' new liberalism may have as much to do with finances as social enlightenment...
Race aside, the post-Elijah Muslims are in for some changes. Wallace announced plans to form a brain trust of Muslim leaders across the country to seek solutions to social ills, a scholarship program for high school youths, and a center to treat mental illness. He has also appointed the movement's first woman minister. While maintaining traditional Muslim secrecy about overall membership (estimated at between 50,000 and 100,000, though higher figures are often used), Wallace revealed the dollar dimensions of Elijah's legacy: the Muslims have investments of $14.5 million in Chicago property...
Recent analyses by New York's First National City Bank, Chase Manhattan and Morgan Guaranty Trust suggest that OPEC's trade surpluses will peak around 1978 and actually swing to a deficit, perhaps of $56 billion (Morgan Guaranty's figure), by 1980. But Levy, one of the most widely respected private U.S. oil consultants, estimates that by 1980 the 13 OPEC countries will still be pulling $50 billion a year more in oil revenues out of the rest of the world than they return through purchases of goods and services. By then their accumulated surpluses of foreign...
Since the last vestiges of the fixed-commission system vanished by SEC order on May 1, a vicious rate-cutting war has erupted among brokers. On many trades big institutional investors (mutual funds, pension funds, insurance companies, bank trust departments) are paying commissions 20% to 60% lower than those charged in April. Rate cutting on that scale, if continued, could force some weaker brokerages into bankruptcy or emergency mergers with stronger investment houses...