Word: optional
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Dates: during 1950-1959
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...financial dipsy-doodling, none is more involved than a deal set up by a pair of film writers named Martin L. Rackin and John Lee Mahin. Ten months ago the team found a loose option on Harold Sinclair's Civil War novel, The Horse Soldiers, snapped it up for a token $1 (eventually they paid $30,000 for the book). Looking around for a director, Entrepreneur Rackin went to the best. "For the hell of it, I called John Ford." Before long, Director Ford, a Civil War buff, agreed to do the picture for a $200,000 flat...
...American holiday offers the happy option of putting Christ into Christmas or taking him out. What makes it this way is that Christmas is an established religious holiday in a country without an established religion, which seems a pretty good compromise between the forces of light and the forces of darkness...
...sweeten the kitty. National has also agreed to a stock exchange that, if CAB approves, will eventually give Pan Am a big voice in its affairs. In a $16 million swap, the two lines will exchange 400,000 shares of stock, and Pan Am will get a two-year option to buy another 250,000 shares of National stock at $22.50 per share. The effect would be to give National a minor (6%) interest in Pan American, while Pan Am could gain 36% of National if it exercises its option...
With the state's "massive resistance" laws ready to topple in the courts and with powerful Virginia editors looking for a way out (TIME, Nov. 24), able Lawyer Almond came close to admitting that Virginia might have to come up with a local-option school plan. Only two days before his news conference, Almond and Virginia had got a vaccination against the infection they feared. In Norfolk (pop. 314,600), where 10,000 pupils are still locked out, voters decided 12,333 to 8,781 against petitioning Almond to return their schools to local control, thus let them open...
...costs of repayment would be less than one per cent of lifetime income, assuming that the student borrows for three years (that is, the four college years sans summers), and the interest rate is kept low. Payment would be spread out from twenty to forty years, with option, of course, to repay as soon as one desired. Approximate rates of interest are four per cent on a twenty year loan, and two per cent on forty years...