Word: billions
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Dates: during 1970-1979
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...University of California and four years in a Wall Street law firm, Miller took a job at Textron Inc., the big Providence-based conglomerate, eventually becoming its chairman. During his 17 years running Textron, the company's annual sales grew from $383 million a year to $2.8 billion, and profits jumped from $14 million to $137 million. His spare-time interests range from golf to opera...
...what was going on. Solomon could not provide inside information on what would happen next. Deprived of top-level advice, foreign money managers followed their instincts and bought some dollars to head off any major upset in the international exchange markets. The Federal Reserve Board also poured some $2 billion into the foreign exchanges to buy dollars, and at week's end the slide was stemmed. Still, in the past month the dollar has lost roughly 5% of its value against the West German mark, Swiss franc, French franc and British pound...
...This has been reflected in White House swings of policy and shifts of focus. He has fought first unemployment, then inflation, then the energy war. At one moment Carter has preached a balanced budget and then turned around and sent Congress a health-care plan that would add $24 billion to federal spending. He has said he favors decontrol of energy prices, but has always been reluctant to take such steps...
...hand, he shares the public's rising distrust of Washington-dictated solutions for inflation or energy. Yet his concrete policy proposals usually involve 1960s-style programs that require big spending and larger bureaucracy. Last week's energy program would mean two new bureaucracies and $141 billion more federal spending. And as the election approaches, Carter may be tempted to reach for even more Big Government solutions to prove his effectiveness and leadership ability. Said a Cabinet member: "The President has difficulty seeing the interrelationships of problems. He will master one subject superbly and then...
Keeping the countryside poor, however, is no longer an option for Bangkok. Kriangsak declared 1979 as the "year of the farmer" and launched an ambitious $2 billion rural reform program to be renewed annually. Said Kriangsak: "Thai farmers will eventually be standing proud and tall in the coming decade...