Word: borrowing
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Dates: during 1980-1989
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Like individuals, companies borrow to keep up with the Joneses. The debt that it takes to remain competitive can grow particularly heavy when corporate profits are low, as they have been for the past year. Even Pan American World Airways, which sold its Pacific routes to United in April for $750 million, will soon have to borrow more to acquire a new fleet of fuel-efficient jetliners. The company expects to assume more than $1 billion in obligations when it starts taking delivery of 28 European-built Airbuses...
Federal Reserve Chairman Volcker voiced new concern about corporate debt last month during congressional testimony concerning the Reagan Administration's tax program. He criticized part of the plan because it allowed interest payments to remain deductible. That, said Volcker, encourages companies to borrow instead of selling stock to raise funds...
...bulletin on ailing Latin American debtors, the condition of Argentina, which owes $48 billion to foreign creditors, changed last week from critical to merely serious. The International Monetary Fund said that it had reached a preliminary agreement with Argentina on an economic program that will qualify the country to borrow nearly $1.2 billion from the agency. Buoyed by the prospect of new credit, Argentina was able to pay foreign banks some $250 million in overdue interest...
Only juniors and seniors could borrow books from the library--no more than one every three week--and had to ask permission from the president or tutors...
...serious side of De Vries has been subject to considerable analysis, most of it attempts to align the author's dour Dutch Calvinist upbringing with his development as a comic writer. To borrow a De Vriesian analogy, such treatment is like putting the reader into a diving bell and taking him down 3 ft. His latest novel counters that effect by granting his fans a chance to wet their feet once again in the forbidding shallows of sex, money and social class...