Word: bernsteins
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Dates: during 1970-1979
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...services recently prompted the U.S. Export-Import Bank, which is providing much of the financing for the project, to ask the Justice Department to determine whether Westinghouse made improper payments to a foreign business agent. Troubled by an embarrassing international scandal, President Marcos last week told TIME Correspondent Richard Bernstein: "Westinghouse has some things to explain to our government. If there has been anything illegal committed by Westinghouse, our lawyers are considering canceling the contract with Westinghouse and giving it to somebody else...
...this cozy relationship with officials that Disini apparently used on behalf of Westinghouse. For a while, reported TIME'S Bernstein last week, it seemed that the nuclear plant deal had been locked up by Westinghouse's chief competitor. General Electric. The Philippine National Power Corporation had finished preliminary feasibility studies by early 1974 and had signed a contract with G.E.'s local consulting firm. According to knowledgeable Philippine businessmen, Marcos then unexpectedly intervened and stunned a number of advisers by ordering that the profitable contract be awarded to Westinghouse instead...
...Arts presents a Faculty Recital with harpsichord works by Bach, Sarlatti and Rameau. The concert is on Friday, January 20, at 855 Commonwealth Ave., Boston. Call 353-3345 for more information. The School also presents concert of "Music of the 20th Century" on January 31, with works of Bernstein, Babitt and others...
...hate comes from a sense of injury as brokers contrast the current blah market with stocks in the Soaring Sixties. Then issues selling at 50, 60 and even 100 times earnings were not uncommon. Now many are going for ultralow prices of six, seven or eight times earnings. Bernstein, writing in November's Institutional Investor, a trade magazine, goes on to say that the experience of investors during the past decade "has probably been the worst in this century -and perhaps the worst in stock market history." Worse than the 1930s? Yes, says Bernstein, when inflation is cranked...
...industrial stocks closed at 1004, its year-end record. By the final bell last week, the widely watched indicator had dropped 19%, to 815. The mood on Wall Street, among the brokers and traders whose heartbeat is the daily ticker, has turned from despair to anger. Says Peter L. Bernstein, an economist-consultant to large institutional investors: "We hate stocks, we hate ourselves and our customers hate...