Is there a difference between older logos and more recent logos in the use of type/text vs design/graphic image? This logo is very traditional. I find that modern logos tend to be very simple and symbol based, while older logos are more text based.
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There is consistent proximity throughout the logotype. The negative space forming the "N" makes sense with the name because looking at the logotype engages the audience when locating the "N". I also think the logotype font works well bold.