Word: belled
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Dates: during 1970-1979
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Even before the opening bell rang, the traders, specialists, clerks and messengers who work on the floor of the New York Stock Exchange sensed that Wednesday would not be an ordinary day. The Federal Reserve Board's decision to raise the prime rate had already rocked the stock market, triggering a frenzied sell-off that had sent the market plummeting by a startling 26 points on Tuesday-the worst setback it had suffered in nearly six years. Now, at brokers' booths and trading stations, everybody was fretting about what worried investors would do next. "We're going...
...meeting with the U.S. church hierarchy, he praised American bishops for their doctrinal unity with the papacy. But their unity was anything but total. Grumbled one bishop: "He was harkening back to an orthodoxy that I thought we had passed by years ago." Said another: "I almost expected the bell to ring, telling us it was time to go to the next class...
Businessmen must share the opprobrium for stifling innovation. Says Donald Frey, chairman of Bell & Howell: "The biggest problem in the U.S. is not the lack of inventive capacity but the lack of businessmen willing to take the risk investments." The bottom-line obsession of many managers results in quick payoff investments to retool old products rather than expensive long-term spending to develop new ones. Though Texas Instruments this year will spend $155 million on research, Vice President George Heilmeier admits: "We have become conservative and spend less on basic research...
Large technology-based firms like IBM and Bell Labs are also sinking megabucks into research. Bell Labs will spend $1 billion on research this year, with large amounts going to develop fiber optics -systems that carry information in rays of light traveling through slender glass fibers rather than in electric currents moving through bulky cables. IBM's research budget this year will be $1.25 billion, and the company has become the first to master the mass production of a silicon memory chip small enough to pass through the eye of a needle yet able to store 64,000 bits...
Some accounts say Helms threatened to spill every dark secret he could dredge up if he were brought to trial; Powers ignores this scenario. In any case, in 1977 Helms' lawyers reached a deal with Attorney General Griffin Bell that allowed him (in exchange for a plea of nolo contendre) to escape with a suspended two-year jail term, a $2,000 fine paid by sympathetic colleagues, and his federal pension intact...