Word: billions
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Dates: during 1970-1979
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...distressed urban areas by encouraging private investment. To qualify for UDAG, a mayor must prove that his proposal has local business support and will create jobs. In the past two years, HUD has paid out $700 million in seed money that in turn has generated an investment of $4.1 billion in private funds. An unflappable official, the Baltimore born and bred Embry plans to return to local government after HUD. Says he: "The oldest cities may be the newest frontier...
...returned to Alaska to lead the struggle for native rights. As a state legislator, he flew to Washington more than 100 times to help keep the land claims issue before Congress. In 1971 Congress passed the Alaska Native Claims Settlement Act that gave Eskimos, Indians and Aleuts nearly $1 billion and 40 million acres of land. Hensley now heads the influential development arm of the Northwest Alaska Native Association (NANA), one of 13 regional corporations created by the act to manage Alaskan native assets. Under his tenure, NANA has built rural schools, offices, rescue stations and even owns a reindeer...
...about $20 million (out of his $100 million fortune) that he had managed to stash outside the country. To American experts who have studied Somoza's corrupt regime, both estimates, however, appeared surprisingly low. Most valuations of the dynasty's holdings were between $500 million and $1 billion; they included Nicaragua's national air line, Lanica, its major shipping company, the Mamenic Line, perhaps 25% of its best farm land, and an array of other enterprises. Says Richard Millett, author of The Guardians of the Dynasty, a highly critical account of the Somoza family: "It was hard...
...Britain to a healthy 4.5% to 5% expansion in Japan. West Germany, Europe's trusty "locomotive," will slow to about 3%, while France will do well to reach 2.5%. Because of higher prices for oil, balance of payment deficits for the OECD countries will double, to $40 billion. Meanwhile, the combined surpluses of the OPEC cartel will also double, to $70 billion...
...bigger and fancier models cost as much as $30,000. Even sales of above-ground kiddie-type pools, which retail for $700 to $1,200, are running 15% ahead of last year. Total purchases of pools, chemicals and equipment should reach a record of close to $3 billion. The market is helped by the new attention to fitness and the inflation in costs of faraway vacations, but the driving force is gasoline. Nobody has to wait in line to fill a pool with water-or pay $ 1 a gallon...