Word: borrowers
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Dates: during 1970-1979
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...borrow $350 million of additional capital to finance its operations and pay $35 million a year in interest. Saving that much, he says, permits Revlon to "take creative flyers" on some product lines that it otherwise would not introduce?Polished Ambers, for instance...
Business leaders also complain that for social and political reasons it has become too difficult to fire redundant workers. One result is that companies with diminishing production cannot cut their costs; their profits fall, and they must borrow money, not to invest in new techniques and equipment but merely to keep the factories turning. "If a small-or medium-size enterprise runs into temporary cash problems," says De Bodinat, "chances are it will go bankrupt. But a big, dying industry can generally count on government subsidies. This is the opposite of survival of the fittest. It is maintaining dinosaurs while...
...will eventually go to the school district, and each teacher has been fined two days' pay for every day on strike. The average loss: over $5,000. In effect, Levittown teachers will be working until the end of January without pay. Some have had to sell their houses, borrow to the limit, and bite into savings...
...them some trouble. Robert Corson, treasurer of Foxboro Co., a Massachusetts maker of controlling and recording instruments, warned his collection agents that they may have to lean harder on customers to pay their bills: "People try to get free credit out of their suppliers when it gets harder to borrow elsewhere." Nonetheless, he says, "people are glad to see some measures being taken, and the psychological boost might actually encourage expansion...
...fiscal crunch led the mayor last May to borrow almost $18 million from the water department's capital-improvement fund to pay other departments' operating expenses. But now the water system has decayed dramatically: pipes are badly corroded and a filtration plant is in danger of closing down for lack of maintenance. Two weeks ago a local court ordered the water department into receivership while a regional authority prepared to take over its operation...