Word: abroader
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Checking the background of many foreigners--even those who, like Veliotis, are naturalized Americans--can be exceptionally difficult. Sometimes U.S. investigators have language problems; often foreign governments are not cooperative. Subcommittee Staff Investigator Fred Asselin says that frequently when information from abroad proves hard to find, it is simply not checked: "Every time they can't verify something, they say, 'Let's assume he's telling the truth.' "U.S. military contractors now employ 10,675 émigrés from Communist countries who have been cleared by security agencies or are in the process of being cleared. Among those...
Such a decline would mean that foreigners were pulling vast sums of cash out of the U.S. Since money from abroad has been helping to finance the huge budget deficit, the outflow of funds would drive up interest rates. Meanwhile, the Federal Reserve would be tempted to force borrowing costs still higher in order to encourage the foreign capital to return. The outcome of all those actions would probably be a painful and prolonged recession...
...Hills wine shop, bought 500 cases of old Coke after the new product was announced, and sold them all for $30 each, nearly triple the normal price. When they were gone, Overstreet began contacting foreign bottlers to import the drink, which has not yet been replaced by new Coke abroad. His search took him from England ("It didn't taste right") to Mexico, Puerto Rico and finally Brazil. On the day Coca-Cola disclosed that it was reviving the old beverage, a Rio bottler was about to ship Overstreet 300 cases of Brazilian Coke, the first...
Industry analysts believe the buyout makes sound business sense. Faced with a slump in jeans sales in recent years, Levi in the past 20 months has ruthlessly slashed costs, closing 14 domestic plants and an additional nine abroad while laying off some 5,500 workers. Net profits are up for the leaner Levi, and prospects are improving. Meanwhile, lower interest rates make it cheaper for the family to borrow money to finance the buyout. LEGISLATION Taking On Takeovers...
...York exchange action reflects stiffening competition from stock exchanges in other time zones in the U.S. and abroad. The Big Board wants to make trading more convenient for foreigners by having its hours coincide with more of their hours. At 9:30 a.m. in New York, for example, it is already 3:30 in the afternoon in Paris. The 9:30 start, however, will be tough on West Coast brokers, who must now start their trading day at 6:30 a.m. SCANDALS Christie's False Impression...