Word: offing
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Dates: during 1970-1970
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Companies that had thrived by borrowing and expanding recklessly simply collapsed. Several franchising chains took a clobbering, including International Industries' House of Pancakes, Joe Namath's Broadway Joe's and Minnie Pearl's Chicken System. So did computer software firms and rickety conglomerates. Flamboyant, fast-talking...
Ripples from the Rates. Much of the financial distress has been alleviated since the Federal Reserve Board again began expanding the money supply. Since Arthur Burns took over as chairman in February, the board has fairly consistently increased the money supply at an annual rate of 5% or 6%. Because...
Since November, long-term interest rates have declined more swiftly than at any time in the last century. Rates on average-grade corporate bonds, for example, have fallen from 9.05% to 7.80%. A smaller drop in mortgage interest rates, which now average 8.45%, has helped builders to increase the annual...
Jumping Through Hoops. The year 1970 was also notable because, more than ever before, the talk about consumer protection turned into action. Many businessmen had long scoffed at consumerism: Campbell Soup President W.B. Murphy once called the movement "a fad, of the same order as the hula hoop." Through gutsy...
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