Word: foundering
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Dates: during 1970-1970
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...Newton, founder and Minister of Defense of the Black Panther Party, was released Wednesday on $50,000 bail while awaiting a new trial on charges stemmin from the shooting of an Oakland Policeman...
Clayton House, one of San Francisco's earliest, seems to have succumbed already. Founder Richard Key and his entourage now tape broadcasts for ten radio stations, publish a newsletter soliciting contributions, and maintain a 24-hour prayer room to forward the petitions of their benefactors. Meanwhile, Clayton House has abandoned the now largely black Haight-Ashbury scene just down the hill. "God has taken us out of the street ministry," explains one member. Of the potential converts still remaining in the Haight, he says: "Their hearts are hardened...
...York firm, Rosenberg and Stiebel, which numbers Oilman Paul Getty and CBS Chairman William Paley among its customers, traces itself back for more than 100 years to an antique dealer in Frankfurt. Its rising generation includes American-born and -educated Gerald Stiebel, 25, great-grandson of the founder. Rosenberg and Stiebel handle million-dollar sales with casual aplomb. The Metropolitan bought the Merode altarpiece for the Cloisters through them ("Probably our most important sale," says Father Eric Stiebel). Paul Magriel builds entire collections in some special area (Art Nouveau furniture, American still lifes), then calls in other dealers to dispose...
...about everything that moves in large dollar amounts-corporate stocks and bonds, Government securities, tax-exempts, commercial paper, bankers' acceptances. The illuminated, electronic quote board, largest in the world (90 ft. by 6½ ft.), shows the prices of 195 key issues. William R. (Billy) Salomon, 56, a founder's son who is now the managing partner, sits behind a desk at one end of the noisy trading floor. The buttons on his phone light up and he answers himself-often to call a quick meeting with partners on the floor to decide whether the firm will commit...
...find out how the investment has been doing lately. He decided to look behind the sober smoke screen of Washington's meticulously kept accounts. In a fiendish demonstration of the power of scholarship, he proves, almost convincingly, that the father of his country was also the founder of modern expense-account living...