Word: bonanzas
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Dates: during 1970-1979
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Carter sought to blunt some of the conservative reaction by indicating that normalization would lead eventually to a bonanza for the American economy. He spoke to reporters glowingly of "the new vista for prosperous trade relationships with almost a billion people." U.S. trade with the mainland now totals only about $1 billion a year. Says Ping-ti Ho, an expert on China at the University of Chicago: "The reason the Chinese have not bought from the U.S. is largely related to the absence of full diplomatic relations. Normalization will remove this barrier...
...Calvin Trillin's 1977 comic novel Runestruck, the fictitious Maine coastal town of Berryville goes crazy when a stone with inscriptions that seem to be Nordic is unearthed there. Some townspeople want to cash in on the bonanza by doing such things as building a theme park and holding a festival. Others seek, in vain, to avoid exploitation. Chaos reigns as the citizens realize that Berryville is likely to become a national shrine: the site of the first Viking settlement in America. Last week real events in a small Maine community seemed on the verge of following those...
...Gamblers in Maryland were thankful because the state lottery hit a strange losing streak. Last Tuesday, when the number 777 came up, was a real gamblers' bonanza: the state had to pay out $3.1 million on $900,000 worth of tickets...
Egypt's hotel shortage may cause a squeeze, but construction is now under way by many companies, including Hilton, Intercontinental and Marriott. On both sides of the Sinai, tourist officials foresee a bonanza as international travelers rush to visit both countries in a single trip. Says Fuad Shady, an official of the Nile Hilton: "We have the greatest tourist package in the world?the Holy Land combined with the world of the Pharaohs?and a great year-round climate...
...moral of this story: Shapp's financial package was less of an inducement in VW's decosopm-making process than it was a bonanza once the decision was made. Nowhere was this more true than in tax abatements Shapp offered. Two years ago in Working Papers, MIT economist Bennett Harrison published a study of corporate decision-making on plant location. Harrison concluded that tax incentives were so far down the corporate priority list--much less important than factors such as site access and condition, workforce composition and education, union presence--that they served primarily as windfall profits. But meanwhile, states...