Word: chases
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Businessmen may also feel confident enough to spend much more. After Nixon's speech, a top economist at Chase Manhattan Bank revised estimates for capital spending upward by a minimum of 20%, and leaders of many large corporations ordered complete budget reviews. Said Paul Oreffice, financial vice president of Dow Chemical: "Our budget for new plants over the next year could go up from its present level of $150 million to as much as $200 million." One major complaint was the one-year time limit on the maximum 10% credit. The incentive would have almost no effect during...
...recession, corporate planners will be much more likely to use the tax credit to modernize existing plants than to build new ones. As businessmen start to borrow money to finance these projects, banks and other lending institutions will feel a sharper demand. Many bankers, including those at Chase Manhattan and Bank of America, all but pledged not to raise interest rates during the freeze period, even though the price of money is not regulated in the President's freeze...
Meanwhile, planners hope that when I-84 is finally opened to traffic in 1976, Detroit will have reduced auto emissions enough to allow an outfielder playing on the interchange diamond to chase a fly ball without getting lost in the smog...
Businessmen, particularly pension-fund managers, who control more than $130 billion in assets-the largest pool of private capital in the country-are wary of the bill, particularly of its provisions for mandatory vesting. Jean M. Lindberg, senior vice president of Chase Manhattan Bank, a major fund manager, predicts that pension costs could go up from 5% to 15% for many companies if Javits' bill is passed. For some industries, particularly those with high employee turnover-such as the hard-pressed textile industry-the extra cost could go as high as 20% and drive them out of business...
...Sweetback graduates to an obvious profession: pimping. He "goes bad" while watching two white policemen cudgel a black youth wrongly accused of inciting riot. Sweetback reacts by mashing the cops' skulls with their own handcuffs. He then sets off on a ghetto version of the traditional Wild West chase. He fights and fornicates, leaving behind a trail of bodies in various stages of disrepair. When cornered by two cops, Sweetback responds with his own brand of sky-high black consciousness: he kills them. After he escapes to Mexico, the screen fills with a printed warning: WATCH...