Word: payment
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Ledger-Demain. With an eye to foreign trade, Callaghan took care to affirm that the 15% import duties announced last month were only temporary, to be lifted when and if Britain's balance-of-payment problems are eased. All told, it was a fairly effective act of ledger-demain; the gas-tax increase was passed by a ten-vote margin, the income tax by 26. The budget's impact is decidedly deflationary, since it will take nearly $600 million in purchasing power out of the economy. Some experts believe that this is just what is needed right...
...billion, voted a year-end extra dividend of $2 a share. With higher dividends for the first three quarters, that will raise G.M.'s big payoff from $4 a share last year to $4.45 this year, and give some 250,000 shareholders enough for a down payment on a new Chevy or even a '65 Cadillac. While G.M.'s calculated munificence will reverberate throughout the economy, the biggest individual beneficiaries will be five elderly men who had the good sense to become the largest shareholders in the firm. All but one of them got in very early...
...fifth course at no extra charge. The rule gives the student much-needed flexibility in planning his course of study for a coming term; unsure of whether he can handle a five-course load, he can enroll in an extra course knowing that dropping it will entail only the payment of a nominal fine...
...usual, it will take most union members more than a year to make up in new benefits what they lost in wages during the strike. The 306,000 G.M. workers lost more than $170 million, and payment of modest strike benefits depleted the U.A.W.'s $67 million strike fund by more than $40 million. The loss in buying power also depressed business in communities with heavy concentrations of G.M. plants, where retail sales slumped and loan applications rose. In Pontiac, Mich., where hundreds of auto trailers stood empty and desolate, a butcher in a U.A.W. neighborhood noted that...
...later vacation, the American consumer has piled up a truly phenomenal $280 billion debt-and is rapidly adding to it. Families are up to their eaves in $190 billion worth of mortgages, also bear another $76 billion in various consumer debts. One household in two has to meet installment payments on appliances, furniture, the car or personal loans. Nearly everyone shares in the $17 billion debt burden spawned by credit cards, charge accounts, single-payment loans and other short-term credit. While their grandfathers would have considered them reckless and irresponsible, these on-the-cuff customers have stimulated the current...