Word: absorbent
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Dates: during 1970-1979
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Four New York bond trading houses have failed. One of the victims is Frederick Gorsetman, 34, who, riding along with rising bond business in August 1978, opened his own firm. But when the Federal Reserve drove up short-term interest rates, his firm had to absorb devastating losses on bonds that no one would buy. After three weeks of harried days on Wall Street and sleepless nights in his Riverside Drive apartment, Gorsetman closed his ofiice's front door. Although he is now looking for another job on Wall Street, he says bitterly, "The market stinks...
More shocks follow Moshe Dayan 's resignation ''I told the Premier that we are subjecting our people to daily shocks.'' lamented an aide to Menachem Begin. ''and we have gone well beyond their ability to absorb those shocks.'' So it seemed...
...lashes, plus prison terms at hard labor. In preparation for the whippings, an 18-ft. raised platform had been erected. On it was a large A-shaped scaffold, with straps for the prisoner's wrists attached near the top and thick padding along the crossbar to absorb the impact of the whips on their bodies. As viPs looked on, two muscular men pranced about, slashing Malacca canes through the air to limber up their muscles. They were convicts, who would be rewarded for successful floggings with extra rations. A doctor stood by, empowered to stop the beatings...
...thesis put forth by Professor Lloyd Dumas of the University of Texas is that "people who do military-related work and the firms they work for receive a flow of money that is not balanced by a production of goods and services that can be used to absorb that money...
...political fray, letting Barre run the country on a day-to-day basis and, conveniently, leaving him to take the heat for unpopular decisions. But now, says Jeanne Labrousse, director of the polling institute I.F.O.P.: "We have reached the point where discontent is so high that Barre cannot absorb it all himself." According to Jacques Attali, a leading Socialist economist, the reason is that Giscard and Barre can no longer promise light at the end of the austerity tunnel. Says Attali: "The French are losing hope." According to a survey in the business magazine L'Expansion, three...