One Million Dollars????

That's a purchasing power comparison, not an investment outcome of investing the ransom money.

>>>Still, considering they were facing life in jail, $250,000 per man seems kind of lame, even if it is around $1.1 million in 2006 dollars.<<<


>>>$1.1M in 2006 dollars? Are you nuts? In 1974 the Dow Jones was under 600. In
2006 it was well over 11,000. Remind me to never make you my financial planner.
You'd better add a few million dollars to that 1.1.<<<


I believe he means per highjacker. So the total haul would be $4.4 million.

Incidently, I wonder how difficult it would be for the city to pull together $4.4 million, or even $1 million, in 50s and 100s in one hour today, considering how much business and commerce is done electronically (credit/debit cards, wire transfers, direct deposit). Few people even pay cash for their subway fares today. How many banks really have that much cash laying around?

***************
"As God as my witness, I thought turkeys could fly."

Actually in 1974, New York City was in a huge financial crisis--in bankruptcy. When NYC asked for aide from the feds, it led to the famous New York Daily News headline (1975), "Ford to New York: DROP DEAD." Even though there is a huge monetary discrepancy in what NYC sends the feds than receives back FROM the feds--a loss of about 13 billion annually!--(current figures.) It would be a similar situation if your very rich uncle, gave you lots of extra cash, without you asking for it over many decades, (not a loan a gift.) Then when your uncle hits a financial crisis, you say, "Drop dead, Uncle!" So the mayor in the film was right, the city didn't have a million dollars. Oddly enough, the New York Daily News, endorsed Ford for president in 1976! Politics DOES make strange bedfellows! But then again, the Daily News is a rag of a paper.

"Anyone who tells a lie has not a pure heart, and cannot make a good soup." Ludwig Van Beethoven

In the 1970s, and early 1980s inflation was through the roof--like double digit inflation.

Consequently, 1 million dollars compounded at approximately 6% inflation rate...for 34 years (1974-2008) means that 1 million dollars would be worth approximately


7.3 million US Dollars today.


1,000,000 times 1.06 (y to the x) 34 = 7,251,025




"The more they overthink the plumbing, the easier it is to stop up the drain"

In '76 I started driving, and gas was 65 cents/gallon. (There was even a Pinto commercial where the lady asks for a dollar's worth of gas cuz the gas mileage was so good, and when the gas attendant laughed at her, she put him in his place by saying that, instead, she'd only take a gallon).

I saw an old Mod Squad, and there was a gas station in the background advertising gas at 39 cents.


Saulisa

you could buy a brand new car for $4000,and a decent size house for $50,000.

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