Word: assets
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...taking advantage of West Germany's troubles, the East German Communist regime issued an ominous warning that it was now barring all senior Bonn officials from traveling to and from West Berlin through its territory. It was a clear threat to West Berlin's most precious asset-its free access to West Germany-and as such, posed a potentially greater peril to the city than even the hotheaded students...
Fewer People, Better Paid. One reason they did is that, like their blue-chip clients, the big agencies have been able to take advantage of economies of size. "Bigness is really an asset," says Young & Rubicam President Stephen O. Frankfurt. All are using computers, which not only tot up possible profits but also give a broad idea of agency problems. With the help of the expensive computers, and with payrolls representing 70% of total expense, the agencies have been able to cut back on clerical help and thus reduce such other overhead as floor space. As a result, they have...
Creation of the new monetary asset still must be ratified by countries representing four-fifths of the $20 billion in assets of the 107-nation International Monetary Fund. That process is expected to require about a year. The paper gold will go by the name Special Drawing Rights, or SDRs, and will be administered by the IMF. Though SDRs will consist entirely of entries on the IMF's ledgers, in proportion to each nation's regular IMF contributions, they will become a permanent addition to the monetary reserves of IMF countries. SDRs will be used to settle accounts...
...fact that tourism is Vermont's No. 2 industry; each year, twelve times as many visitors pass through the state as there are Yankee natives (416,000). Most newspapers swung round to the view that proliferating billboards were striking a blow at the state's greatest tourist asset: its unspoiled wooded hills and valleys. Although one letter to the editor insisted that "good billboards are beautiful and break the monotony of a long motor trip," citizen mail to editors and legislators ran as much as 30-to-l in favor of the ban. Crucial to the passage...
...Bretton Woods, N.H. Out of their deliberations came the Washington-based International Monetary Fund and its sister agency, the World Bank (now headed by Rob ert Strange McNamara), which makes loans to underdeveloped countries. Bretton Woods' key decision was to stick with gold as the primary international monetary asset. In vain, Britain's John Maynard Keynes argued for creation of a new international money to sup plant gold. He warned that reliance on "the barbarous metal" would ultimately lead to a drying up of reserves and re strictions on trade and capital flow. The U.S. (then holding some...