Word: accepting
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Dates: during 1970-1979
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Theoretically, authority in the church is exercised by the Pope in conjunction with his bishops. Time was when decrees of the Pontiff or the hierarchy on any issue were obediently accepted by Catholic Americans, as if they were the laws of God. No longer. In matters of faith as well as morals, Catholics seem to be making up their own minds. The Greeley study, for example, shows that only 37% of U.S. Catholics fully accept the doctrine of the infallibility of the Pope-a dogma solemnly defined by the First Vatican Council...
...Nonetheless, the new look, especially the crucifix, jolted St. Ignatius' parishioners, many of them policemen, firemen and other civil servants. Some simply quit attending Mass. "I see a lot of faces not around any more" says one parishioner. But most of those who remained came to accept-even favor-the new church interior and other innovations. "When all the changes started I was kind of confused and disillusioned at times," says Public School Teacher Terry Hess, "but now I have a better understanding. Years ago I would do things out of fear of the Lord...
Global Glut. But the swap raises significant problems for the American companies. The oil would go not to the defense contractors but to a refiner for processing and sale. The refiner must be willing to 1) accept the crude, and 2) set a firm price for it with the U.S. aircraft manufacturers. Finding such a customer will be difficult; there is a global glut of oil, and even tiny fluctuations in price can cut sharply into refinery profits. But the task is not impossible. Several independent oil companies that have lost access to Canadian oil since Canada cut exports...
Officials at oil companies that now deal with Iran have mixed reactions to the barter proposal. Says an executive at Standard Oil of California: "The Iranian government has been pressing the members of the Iranian oil consortium recently to accept more oil. This could take the pressure off us." But another oilman at Standard of Indiana disagrees: "We are now in delicate negotiations with the Iranians. Their crude is overpriced, and we are unwilling to accept their terms. Now along comes the U.S. Government, which says it will [go along with a barter deal]. We are shocked...
Stretched-Out Payments. Fraser now is trying to persuade some 30 banks, real estate investment trusts and savings and loan associations to accept a stretchout of payments on Sea Pines' debt (now down to $110 million from a high in 1974 of $280 million). He plans a three-to four-year halt in new development projects, while striving to increase profits from operating resorts at Hilton Head and Amelia Island, Fla. The strategy seems to be paying off. In the first two months of the current fiscal year, which started March 1, revenues from Sea Pines Plantation were...