Word: trusts
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Dates: during 1970-1979
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Carter expects to strike no major bargains with López Portillo. He hopes only to spur negotiations-on oil and natural gas, immigration and trade policies. Carter, says one adviser, "must restore a sense of mutual trust and cooperation. He's got to change the background music, get rid of the rancor and put the whole relationship back on a candid, open and honest basis." Even these limited goals will tax Carter's formidable skill as face-to-face negotiator and healer of hurt feelings, for the Mexicans believe, with considerable reason, that the U.S. has long...
Fortunately, most defense suppliers will be able to absorb at least the immediate impact of the cutback. As is the case with nearly all U.S. military exports, the Defense Department protects manufacturers by routinely requiring buyers to deposit enough money in a Government-administered trust account to cover a company's start-up costs under a contract. The money, which in the case of Iran totals $500 million, is held in escrow until work is completed and all the equipment has been delivered and paid for. At the same time, the contracts themselves also normally require buyers to make...
Long-range financial forecasts can embarrass anyone-even so savvy a money manager as Benjamin Franklin. Eager to demonstrate that a penny saved is indeed a penny earned, Ben at his death in 1790 left a bit less than $9,000 in trust for 200 years to the cities of Boston and Philadelphia; he directed that it be loaned to "young married artisans" who had finished apprenticeships and were setting up their own businesses. Interest on the loans, he predicted would build up the funds to $18 million...
...apparently won unanimity by harping on his two main arguments: 1) that an Amexco takeover would undermine the editorial independence of McGraw-Hill publications, especially Business Week and the Standard & Poor's bond-rating service, and 2) that Amexco President Roger Morley had committed a "serious breach of trust" by serving as a McGraw-Hill director while Amexco was preparing its bid-a charge that McGraw repeated in a letter to share holders announcing the rejection...
Carnegie II recommends abolishing the CPB and putting in its place something called the Public Telecommunications Trust. The nine-member PTT board would still be appointed by the President. To protect the panel's independence, however, he would be permitted to consider only those names submitted to him by a committee of such notables as the Secretary of the Smithsonian Institution and the Librarian of Congress. To do away with the internal bickering, the PTT would also be deprived of the programming authority that the CPB now has. Programming on the national level would be the sole function...