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Bankers and businessmen were not overly surprised by the news. Rumors of a peso devaluation had been in the air for months, fueled by a huge Mexican trade deficit ($3.7 billion in 1975), stubborn 15%-a-year inflation and high foreign debt ($13 billion). A devaluation was also sought by tourist operators, whose business declined 4% in 1975, owing largely to price increases that had made once cheap Mexico City as costly for Americans as many European cities. Said President Luis Echeverría Alvarez: "In the end, there will be more jobs, more production, more exports and more tourism...
...shareowners, a time-sharing vacation can offer the advantages of a vacation home without the large initial investment or steady upkeep. At the Playboy resort, for example, Larry Leven, a $35,000-a-year Chicago insurance executive, and his family recently spent a week in a condominium that normally costs $135 a day. As owners of a 40-year, $7,050 share at the resort, they only paid an $18 per diem charge...
...odder couples in publishing. Irish Catholic Smith grew up in a Manhattan tenement, quit school at 15 to deliver flowers, drive a cab, and rope cattle in Nevada-all the while writing poems and short stories. Eventually, he worked his way through New York University. A $7,500-a-year fireman 13 years ago, Smith is worth nearly $1 million today, thanks to book earnings and the sale of the movie rights for Engine Co. 82 to Paramount Pictures. He drives to the firehouse in a Mercedes and lives in a $130,000 house in suburban Garrison, but shuns...
Colleagues say Sporkin could easily triple his $37,800-a-year salary by going to work for a private law firm...
Election Fears. These were the reverberations from the confession of Elizabeth Ray, 33, a comely if shopworn blonde, that she had been employed as a $14,000-a-year congressional committee clerk by Wayne Hays; the Ohio Democrat, for the sole purpose of being one of his sexual playmates. Hays, 65, and apparently insatiable, admitted the relationship but protested unpersuasively that Ray had done other work too. Few of the many men who had encountered Liz during her four years on Capitol Hill knew of any talents beyond the bedroom. Congressional Democrats pressed for Hays to resign his committee chairmanships...