Word: billions
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Dates: during 1970-1979
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...editor in TIME'S Economy & Business section. "The movers seemed bewildered by the cases of paper towels, dishwashing liquid and toothpaste my wife Jean had squirreled away in the cellar." Confides Taber: "She manages the family finances. As an economics correspondent, I never touch anything less than a billion dollars...
Inflation has spread a financial virus of unwanted dollars to the economies of the nation's trading partners, turning the once mighty greenback into the sick man of international finance. Since 1970, some $650 billion has piled up in so-called Eurodollar accounts in banks overseas, and the threat is ever present that holders might stampede to sell their dollars. Since 1971, minipanics have led to the collapse of worldwide fixed exchange rates against the dollar, the slide of the dollar against gold and other precious metals, and the progressive disintegration of global confidence in the dollar itself...
Sasol II is being put up 100 miles from the present plant. The $2.9 billion Sasol II will be environmentally cleaner; precipitators above the boilers will extract chemical fumes and reduce air pollution, and water will be recycled rather than dumped in rivers. In addition, productivity will be higher: 1.78 bbl. of synthetic oil from each ton of coal, vs. 1.26 bbl. at present. As soon as that plant is finished next February, construction will start near by on Sasol III. Once the three plants are in operation, they will save an estimated $400 million a year in foreign exchange...
Parts of the underground economy are highly visible. Most big cities are aswarm with street hawkers, who sell from boxes and truck tailgates an astonishing variety of jewelry, clothes, toiletries, fruits vegetables and assorted schlock. Some of the stuff is "hot"; last year about $2 billion in merchandise and food was hijacked from trucks or stolen from warehouses. The rest is distress merchandise that has not moved on the store shelves and is dumped at large discounts to middlemen, who field it out to street hawkers. City governments are trying to collect sales taxes from the vendors, but the vast...
Comforting yet another notable client was California Divorce Lawyer Marvin Mitchelson. She is doe-eyed Soraya Khashoggi, 33, wife of Adnan Khashoggi, 44, a Saudi Arabian entrepreneur whose business deals have earned him at least $4 billion. At 15, Soraya, born in England as Sandra Jarvis-Daly, changed her name and converted to Islam to wed Khashoggi. There followed five children and duties, she maintains, as his adviser and global representative. Then came a heartrending discoyery: he no longer loved her. Five years ago in Lebanon, Khashoggi divorced her. That divorce, suggests Mitchelson, was invalid. Nevertheless, citing "irreconcilable differences," Soraya...