Word: beginnings
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Dates: during 1990-1999
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...financial community considered it the final straw last October when Aristide refused to sign an international agreement to sell off nine inefficient and overstaffed state enterprises. When popular organizations took to the streets, the President preferred to palliate those who would lose jobs rather than begin constructing a working economy. As a result, $100 million in aid has been frozen and private investment scared off. The economy has been dead in the water ever since. Says Michel Georges, a Cap Haitien businessman, with a sigh: "We're waiting for an economic program to begin...
...stock and say that that's actually what somebody has in his pocket," he says. "There are a lot of both legal and practical restrictions on what actually happens to the money." Under the provisions of most IPOs, officers and executives who have stock or stock options cannot begin selling shares for several months. In addition, the sec places strict limits on the number of shares that officers and key executives can sell each quarter. Finally, insiders are inhibited from selling their stock because other investors might take it as a bad sign and start selling...
...file a complaint of redlining (loan discrimination against minority neighborhoods). First Interstate then offered $585,000, on the condition that Payne put up his lot and $100,000 of his mother's property as collateral. Even so, Payne is still about $350,000 shy of what he needs to begin construction--and losing ground. Vacant, the land is declining in value. "It puts the applicant on a slippery slope," says Payne. "I have no income, I have no building, and I have a debt of more than $1,000 a month I hadn't had before the riots...
...peace process made possible by the cease-fire had seemed to be moving forward. Slowly, haltingly, but nevertheless moving. Three weeks ago, former Senator George Mitchell put forth recommendations aimed at getting the I.R.A. and Protestant paramilitaries to turn in their weapons and begin formal peace negotiations. But progress stopped when the British government, at the suggestion of the Protestant Unionists, insisted on an election to create teams that would then undertake the negotiations. The I.R.A. vehemently opposes this. But though tempers rose, everybody kept talking. And as long as the talking continued, went the hopeful reasoning, a way forward...
...Canada, where concerns about violence on TV have been mounting as clamorously as they have in the U.S., broadcasters air expurgated versions of the Power Rangers. Canada is also experimenting with V-chip technology in several cities. This week a third round of tests will begin in about 400 homes where encoded programming will allow parents to selectively block out material rated on a scale of 0 to 5 for offensiveness. So far the V chip has sparked few objections in Canada. By mid-March the government is expected to decide whether or not to enact...