Word: payment
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Perhaps more remarkable than the quick sale was the fact that Barrack had effectively contributed $70,000 of his own money to the deal. The listed purchasers were Santa Ynez Contractor Irv Howard, who made a down payment of $70,000, and the Great American Federal Savings Bank in San Diego, which had, at Barrack's behest, arranged a $240,000 mortgage for Howard at a favorable 11% interest rate. (Great American had already lent $423,000 to Meese at the time.) But last week Barrack testified that he had actually lent $70,000 to Ted Elkin, a former...
...platinum card will cost a plush $250 when it is offered this summer to some 500,000 of Amex's best customers. To qualify, users must have run up charges of at least $10,000 during the past year, and must have a record of prompt payment. Those eligible for a platinum card will receive services unavailable to other American Express customers. They will be able to tap 1,200 automatic tellers around the U.S. for cash advances of up to $1,000, for example, and to cash checks for as much as $10,000 at American Express offices...
...razor-sharp intellect. In 1982, during the impending crisis in Social Security funding, Darman suggested forming a bipartisan commission to put the system on more solid financial footing. Currently he is heavily in volved in the White House negotiations with Congress on ways to find a "down payment" on the U.S. deficit. Says Deaver: "Darman is the best strategist in the White House when it comes to dealing with Congress." He can, however, be abrasive; some key legislators have advised the White House to keep Darman away from Capitol Hill. "Dick is more comfortable dealing with ideas than people," says...
accept a one-time $1,500 payment and tear up union cards; retain union membership but agree to be moved to less sensitive jobs elsewhere; or acknowledge that starting March 1, anyone could be fired without compensation...
...moment, these leaders are having trouble achieving a breakthrough, partly because of the uncompromising attitudes of Speaker O'Neill and President Reagan. O'Neill fears that the President's call for a "down payment" toward reducing the deficit is a ploy to force the Democrats into sharing election-year blame for the huge shortfall. Late last week, however, the Speaker declared for the first time that he would consider trimming cost of living increases in social benefits, if the President would give ground on the tax and defense issues...