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...plan is designed to shelter Community countries against fluctuations of the dollar, as well as other currencies, and thus also help stabilize the dollar itself. Schmidt's proposal features two devices: 1) a so-called boa of currencies, which would have more leeway than the old snake to let weaker currencies, such as Britain's pound and Italy's lira, initially move up and down within a broader margin than the stronger currencies; and 2) a kind of "mini-IMF" of pooled reserves from which the members could automatically draw funds to support their currencies and deter...

Author: /time Magazine | Title: THE EUROPEAN COMMUNITY: Toward a Tag-Team Match in Bonn | 7/17/1978 | See Source »

White House approval of Schmidt's boa is not necessarily a harbinger of sweetness and light at Bonn. The personal relationship between Schmidt and Carter has been poor and has only recently begun to improve, and the West German offer to increase growth if the U.S. moves to solve its deficit problems will probably not be enough to satisfy Washington. The President, though, will have an unexpected new argument to present to the Chancellor. The biggest source of the U.S. trade deficit is not oil but industrial imports from West Germany and Japan (see chart). Department of Commerce figures...

Author: /time Magazine | Title: THE EUROPEAN COMMUNITY: Toward a Tag-Team Match in Bonn | 7/17/1978 | See Source »

...fire someone for turning down a move, but we don't make another offer unless he tells us that he has changed his mind." In response to the move resisters, Bank of America is concentrating on promoting people in their present locations rather than switching executives around so much. BOA's Easley, for example, was promoted May 1, with higher rank and salary in the home office even though he refused the transfer to the San Mateo branch...

Author: /time Magazine | Title: Business: Mobile Society Puts Down Roots | 6/12/1978 | See Source »

...upset about the progress of soccer in the United States. The people in the pro circuit haven't shown enough interest in the American player," complained Shep Messing. That was six years ago, before the Bronx-born, Harvard-educated goalie became famous for eating glass, keeping a pet boa constrictor, posing nude for a Viva centerfold and playing on last year's championship New York Cosmos soccer team. Messing, 28, is no longer upset, having just signed a $100,000 per-year contract with the fledgling Oakland Stompers, making him the highest-paid American soccer player in history...

Author: /time Magazine | Title: People, Mar. 20, 1978 | 3/20/1978 | See Source »

After this, the plot coils around the characters like a boa constrictor and embraces the audience in fun and terror. One of the subsidiary characters is Helga ten Dorp (Marian Winters), a psychic who prophesies events with a certain deadly inaccuracy. Winters makes her the most consumingly droll zany since Mildred Natwick, as Mme. Arcati, had close encounters with a nether world in Noel Coward's Blithe Spirit...

Author: /time Magazine | Title: Theater: Scalp Tingler | 3/13/1978 | See Source »

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