Word: payout
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Dates: during 1970-1979
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...ships or planes to the U.S. for fear that they might be confiscated under court orders. Now the U.S. has agreed to free blocked Chinese bank accounts totaling $80.5 million, and Peking has agreed to pay just that amount against 384 separate American claims totaling $196.9 million. The China payout is about 41? on the dollar, a settlement that is high by the standards of other similar U.S.-Communist pacts, but which is worth only about 15? per dollar in 1949 terms. The pact will permit the U.S. to help China with its development plan...
...woman died aboard the military aircraft sent to fly the injured back to the U.S. At week's end nine remained in critical condition, suffering severe burns. The accident almost certainly will involve the highest insurance claims for any non-natural disaster. Estimates from London insurers placed the potential payout at $240 million. Survivors in California already have filed a class action suit against KLM, Pan Am and Boeing for nearly $2 billion...
Before then, several problems threaten to derail the bold experiment. Stockholders and creditors of the six bankrupt lines have vowed to fight for higher compensation for their property, which could boost the eventual payout well above the $685 million in stock that ConRail is now offering them. Pressure from local politicians might force Con-Rail to keep unprofitable segments of line in service. Then there are labor difficulties. By refusing to give up archaic rules and procedures, railroad unions have aborted a planned $66 million sale of almost 2,700 miles of track to the profitable Southern and Chessie railway...
...Government corporation that takes over the Penn Central and six other bankrupt railroads on April 1. A company spokesman said the timing of the dividend was coincidental but implied that Conrail was entitled only to the railroad's physical assets and not the cash reserve fund. The payout faces a certain court challenge; Conrail had made it clear that it would block any attempt to transfer assets from the bankrupt railroads to private shareholders...
...quite real. The moment of personal financial reckoning is held off by the Supplemental Unemployment Benefit checks that ensure that laid-off auto workers continue to receive nearly 95% of their usual take-home pay. But SUB funds are rapidly being depleted; at current rates of payout, they could run out as early as May for some workers. The checks are what keep the juke joints along Wyoming and Livernois avenues full and make it possible for many unemployed workers to go hunting or take family trips as if on a paid vacation...