Word: bearishness
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Already skirting bankruptcy, many colleges need more income from tuition and government subsidies. Schools in serious trouble therefore must attract more students, and others must at least maintain stable enrollments. Thus the mood was bearish at many admissions offices last week. Even as college acceptances were being mailed to 3,000,000 high school seniors, various surveys found that applications for next fall's freshman classes at many four-year colleges had declined...
...domestic policies or exchange rates, or both, should be adjusted whenever a country's foreign exchange reserves rise or fall substantially; 5) countries should harmonize interest rates in order to avert flows of short-term money seeking maximum earnings. Triffin also urged U.S. officials to "stop triggering bearish speculation in the dollar. They have done so repeatedly in the past by arguing for exchange-rate flexibility and hailing as a victory every upward valuation % of foreign currencies and every devaluation of the dollar...
Marriage Revealed. Peter Ustinov, 51, Britain's bearish author, director, raconteur and two-time Academy Award winner for acting (Spartacus in 1960, Topkapi in 1964); and Helene du-Laud-Allemans, French-born journalist; he for the third time, she for the first; on June 17 on Corsica. In declining to give his bride's age, Ustinov cracked: "She is younger than I am, but not so young as to make marriage to an elderly gentleman ridiculous...
...state legislatures in the U.S. have improved. The director of a new study released last week concluded that "corruption is less widespread than we had thought; not many votes are bought for cash." Otherwise, the most comprehensive inquiry ever made of the lawmaking process at state level was bearish. Though considerable differences turned up between the best and worst bodies, many were judged to be inept, understaffed, poorly paid and in "disarray." The study has special relevance now because of the Administration's revenue-sharing plan. Much of the debate about the merits of that plan already centers...
Since the stock-market crash of early 1970, the biggest noise in the brokerage community has been the sound of the falling ax. On Wall Street, some 35% of the work force has been let go since the market turned bearish. Simply through attrition, Shearson, Hammill & Co. reduced its rolls from 3,300 last spring to 2,800 today. A few firms sliced away a little muscle along with much fat. Some firms fired so many clerks that when trading volume picked up in November, the staff could not process orders on time...