Word: builders
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Under this provision (which remained in effect from 1941 to 1950) the government had agreed to guarantee mortgages on middle priced apartment housing. This meant that a builder could borrow money (at up to 90% of the appraised cost of the project) with the assurance that the federal government would pay if he defaulted. The charges asserted that many builders had overborrowed, getting more cash than they needed to build the apartment houses, and then had pulled out leaving Uncle...
...nation was at war in 1941 when Section 608 was written. Created under the title "War Housing Insurance" it was aimed at meeting the pressing needs for middle priced dwellings. Time, not money, was the short item, and the government turned to the private builder to get the job done quickly. At the same time, it wrote the builder a code of minimum standards that was not as stiff as the one governing public construction. With this flexibility, the private contractor was able to cut certain costs and build more cheaply than the government itself could. But even if private...
Meanwhile, growing needs for housing forced Washington to prod the private builder into action. Section 608 was written with a series of gaping loopholes built in as lures. Under a loose and generous appraisal system, the builder was encouraged to pad his estimated costs and borrow more than he needed. At the same time, the government gave up the control position it had formerly held in the private firm. Under this earlier provision it had been able to watch the builder and block his attempts to overborrow. With 608, the government stepped down and turned its back...
Unlike the manufacturers of these famed European cars, the builder of the sleek blue-and-white racers at Palm Beach is not in business to make money or to advertise the qualities of his regular production models. At 47, Briggs Swift Cunningham of Palm Beach and Greens Farms, Conn, is an outstanding example of a vanishing breed: the millionaire amateur who devotes his time and money, his enthusiasm and his burning energy to the pursuit of a breakneck sport...
This June Briggs Cunningham, sports-car builder and racing driver by postwar compulsion, will be out to show that his U.S.-built cars can perform with the best in the world's No. 1 road race: France's famed 24-hour Grand Prix of Endurance at Le Mans. To hundreds of thousands of U S. speed fans, he is the symbol of all their own sporty urges, the man who makes fast cars and races them with the best at home and abroad...