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With the federal turndown, city officials struggled to gain precious minutes against the deadline for default-3 p.m., when the banks would close and bondholders would have to be paid the interest due on their maturing New York bonds. In an unusual concession, some banks agreed to stay open at least an hour later. Meanwhile, Carey pleaded with Shanker. Separately, Beame pleaded with Shanker. Then, at midafternoon, a worn and weary Shanker stepped before TV cameras to say that he would indeed "advise" the teachers' trustees to advance the necessary money. In Washington, Ford reacted cynically by asking...

Author: /time Magazine | Title: NEW YORK CITY: Saved Again From the Jaws of Default | 10/27/1975 | See Source »

Brezhnev may have covered his flanks on the trade bill by preparing the way for an eventual turndown in the event that it did not come up to his-and his Politburo colleagues'-expectations. According to this line of reasoning, Brezhnev may have reduced the damage to his position. But there is no question that the trade blowup has caused him problems. Just how severe they may be will be better gauged when British Prime Minister Harold Wilson arrives in Moscow next month. Will Brezhnev meet with Wilson? And what success will he have in promoting another...

Author: /time Magazine | Title: DIPLOMACY: A Serious But Not Fatal Blow to D&233;tente | 1/27/1975 | See Source »

...with Ford, Nixon was rebuffed on another front as he struggled to get his personal affairs in order. His perfunctory resignation from the California Bar Association was opposed by that group on grounds that his letter did not even concede that he was under investigation in disbarment proceedings. The turndown keeps that investigation alive, unless it is overruled by the California Supreme Court. Nixon contends that he has no plans to practice law and intends also to resign from the New York Bar Association. It too has initiated a preliminary disbarment probe and is likely to echo the California action...

Author: /time Magazine | Title: THE ADMINISTRATION: The Fallout from Ford's Rush to Pardon | 9/23/1974 | See Source »

Historic Creeds. In fact, however, the turndown of COCU was a textbook example of Protestant church democracy. Last fall a group of about 100 conservative ministers and laymen began meeting monthly in the Presbyterian headquarters city of Philadelphia to discuss denominational issues. In April they drafted an anti-COCU motion arguing, among other things, that the union plan was trying to meld "irreconcilable viewpoints" among the participating churches and was threatening the self-determination of local congregations. One obvious problem: some of the churches adhere to historic creeds specifying their beliefs; others...

Author: /time Magazine | Title: Religion: Disuniting Church | 6/5/1972 | See Source »

...turndown rate during the 1960s and a mere...

Author: /time Magazine | Title: MONEY: Empty Pockets on a Trillion Dollars a Year | 3/13/1972 | See Source »

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