Word: autumns
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...foreign exchange dealers it was a week to remember-or better still, forget. Not since the currency upheavals of 1973 have the world's money markets been in such turmoil. Once again the source of the trouble was the U.S. dollar. After slipping steadily in value all autumn, last week it went suddenly into a free-fall plunge that sent it skidding to postwar lows on money markets from Tokyo to Frankfurt. When the dust finally settled at week's end, a dollar could buy only 241 Japanese yen, 2.14 deutsche marks or 2.06 Swiss francs. Since January...
...immediate reason for last week's plunge was a growing belief among foreign exchange dealers that Washington is complacently prepared to let the dollar bears do their worst. As the dollar's autumn slide gained momentum, dealers began anxiously watching for signs that the U.S. was prepared to step in and buy up dollars to support their price. When news leaked out two weeks ago that U.S. Treasury Secretary W. Michael Blumenthal had met secretly in Paris with European monetary officials, currency traders assumed that a dollar-propping agreement would be announced at last week's monthly...
...this point, Wenner was still on the receiving end of the hype, even if he had consciously courted it, but from here there would only be a short step to self-hype, a move that Wenner was not above making. Out came the two-page ads in this autumn's issues of Rolling Stone touting the upcoming tenth anniversary television show and the accompanying special issue. The headline on the ads said it better than the grumblings of any critic; "Rolling Stone sells out: The 10th Anniversary TV Special." The magazine had gone the way of so many other children...
...largest coal hauler. Chessie has built three "galloping Gerties": huge steel vibrating fingers that loosen coal in one car every three minutes. Other railroads now have similar contraptions. To reduce the possible impact of a threatened United Mine Workers strike, industries and utilities increased their coal inventories during the autumn months...
...small-business bankruptcy." Congressional mail was supportive when the tax debates were about raising the Social Security benefits. Then the people got to the bottom line and discovered who had to pay and how much. The U.S. Chamber of Commerce claims that the anger of businessmen over taxes this autumn is the highest in years. Pollster Louis Harris has placed the national ire at a level he defines as "public outrage." Tax experts believe that there could be a spread of local tax revolts, which temporarily closed schools in Ohio and Oregon. They also fear a rise in "bartering...