Word: vestments
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Dates: during 1960-1969
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Although it has no plans to sell fund shares, Prudential, the nation's biggest life-insurance company, is considering making available variable annuities, which are presently sold only through group-pension plans, to individuals as well. Unlike the ordinary annuity, an in vestment that pays off in regular fixed payments after a certain age, the return on a variable annuity is affected by fluctuations in the market value of the securities on which it is based. For the inflation-wary investor, such annuities thus figure to hold many of the same attractions as mutual funds...
...drains caused by corporate investment and bank lending abroad have been substantially plugged by Government-imposed "voluntary" restraint. Last week the Federal Reserve reported that U.S. banks cut their outstanding foreign loans by $385 million during January and February. Though industry plans to step up its in vestment in foreign plant and equipment by 24% to a record $8.8 billion this year, much will come from dollars borrowed abroad. What else can the Administration do to curb the deficit? Says Treasury Under Secretary Joseph Barr: "The possible courses of action clearly point at the tourist." Of course, as Barr knows...
Significant Decisions. Motorola has managed its mix of products by internal growth rather than by acquisition, financing expansion largely from corporate funds; last year it spent a lavish $48 million on research and capital in vestment. The company also makes a practice of promoting from within...
...soprano Spanish with the first families at El Salvador's Club Salvadoreno, mine copper in Bolivia, spin yarn in Argentina, produce drugs in Mexico. The resourceful investors from Japan, venturing where U.S. businessmen have become reluctant to tread of late, have made Latin America their No. 1 in vestment target. Though Japan's total investment of some $390 million is hardly in the same league with the U.S. commitment of $8.2 billion in Latin America, U.S. investment there is now slowly shrinking-while Japan's is advancing by $100 million yearly...
...point, the lifeguard's vision--and the author's--is unique. "Each morning," says the guard, "as I mount into my chair, my athletic and youthfully fuzzy toes expertly gripping the slats that make a ladder, it is as if I am climbing into an immense, rigid, loosely fitting vestment." In a deceptively smooth metaphoric stream, the lifeguard comments on life and love, sex and salvation from his singularly vantage point...