Word: debt
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Dates: during 1960-1969
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Offer of Refuge. The accused ringleader of the plot, former Vice President and commander of the armed forces, Field Marshal Abdel Hakim Amer, had already paid his debt: shortly after his arrest last fall, Radio Cairo announced that he had poisoned himself, a report received with great skepticism. The twelve in court last week were accused of being Amer's main conspirators. Among them: Shams Badran, Minister of War during the conflict with Israel; Abbas Radwan, former Minister of the Interior; Salah Nasr, former chief of Nasser's intelligence service; and Galal Haridi, who had commanded Nasser...
...work out his luck when he came to the Pennsy, Saunders had two major aims. One was to shake awake a slumbering, 121-year-old railroad that had stumbled onto hard times. Falling earnings and a high debt had led the road's conservative management to cut back on new spending; the Pennsy had hardly enough modern equipment to remain competitive. The new boss changed all that by allocating huge funds ($577 million in the last three years alone) for new equipment and by branching out into fields other than railroading. His other goal was to push through...
...Canada, alone," says Inco President Albert Gagnebin, "there are programs to produce 100 to 150 million more pounds of nickel per year by 1970." To finance all this expansion, a company that has been financially conservative ever since it was organized in 1902 may have to go into debt for the first time. Inco is not worried at the prospect. Rising demand and higher nickel prices produced a profit of $118 million last year on sales of $694,100,000, and Inco's stock and dividend payouts are setting new records, just like the shiny and coveted metal that...
...annual rate of well over $5 billion. That might not seem like much, considering that the U.S. produces more than $800 billion in goods and services annually. The U.S. could be compared to a man who earns $8,000 a year, has a rising income and a debt of only $50 to a creditor in another city. He doesn't worry-so why should...
...literally stuffed banks with funds. In its early stages, the massive infusion helped to keep the economic dip trivial. For a few months, interest rates fell, but as the mini-recession melted away, voracious business demand for loans reversed that trend. Corporations borrowed $16 billion through bonds and other debt securities in 1967, almost half again as much as a year earlier. State and local borrowing also rose sharply. In the second half of the year, increased federal spending sent the Government heavily into the market as well, forcing the Federal Reserve to stoke the money supply...