Word: billions
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Dates: during 1970-1979
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MORE "CARTER BONDS." Since last November the U.S. has sold $4.2 billion of so-called Carter bonds in West Germany in order to raise marks for the dollar defense. Plans have been worked out to issue more such bonds...
...federal, state and local regulatory barriers that delay key energy projects. This week the Senate Finance Committee is expected to pass its version of the important windfall profits tax that will finance the new projects. The Senate is likely to approve a tax one-third smaller than the $104 billion House version: President Carter originally demanded a $142 billion...
...dollar gap has since become a dollar glut. Due to heavy foreign spending, first to pay for the Viet Nam War, more recently for oil imports, the U.S. has exported enough dollars in the past decade to boost the reserves held by foreign central banks from $24 billion to $300 billion. Private international banks hold another $600 billion in Eurodollars, which are dollars loaned abroad...
Ministers in Belgrade took a step to ensure that the crash of '79 remains fiction by reducing the hazardous excess of dollars. They agreed to press work on a plan to replace perhaps as much as $40 billion in dollars with bonds denominated in a basket of 16 currencies, including two from OPEC countries-Saudi Arabia and Iran. This could be approved at a meeting in April...
There is little chance of a Chrysler-type financial Armageddon. Ford remains a globe-girdling, diversified corporation with 1978 earnings of $1.6 billion on revenues of $43 billion. Its glass, steel and aerospace operations boast record earnings, as does its international automotive business, which ranks second only to Volkswagen outside North America. And Caldwell is a cool, analytical manager who is credited with turning around international operations, which produce two-thirds of Ford's profits. Can he rebuild domestic sales? Cautions Caldwell: "This is a long-lead business. A lot will come two to three years from...