Word: buying
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Dates: during 1960-1969
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ITEM: In San Francisco, a Safeway official observes: "We have customers who come to the store for no other reason than to buy grapes. They'll load up their car with grapes and nothing else...
...first in 1967 to the Giumarra Vineyards Corp., the largest U.S. table-grape producer. Giumarra started using the labels of other growers?in violation of Food and Drug Administration rules?to circumvent the boycott. In retaliation, the Chavez people began to appeal to stores and consumers not to buy any California table grapes at all. The boycott has been extended overseas to Britain and Scandinavia...
...Chile, the government of President Eduardo Frei Montalva came to terms, after weeks of negotiations, with the U.S.-owned Anaconda Company. Chile will buy 51% control of the giant copper interests of the company (see BUSINESS). It was a victory for the moderate Frei; Chile's more militant nationalists had agitated for outright expropriation of Anaconda...
Washington seems to be moving in these directions. Last week President Nixon decided to abolish the often criticized principle of "additionality," which, since 1965, has forced Latin Americans to buy American goods with U.S. aid money. Last year, 92% of the $336 million aid package to Latin America was, in fact, spent in the U.S., compared with only 41% in 1960. Additionality was originally introduced to help improve the U.S. balance of payments, but has brought the U.S. a mere $35 million in annual savings. Since that amount is but a drop in the $4 billion annual U.S. sales...
...still the highest ever achieved, the value of the nation's currency is dwindling alarmingly. It has gone down by almost two-thirds in the past 30 years. A 1958 dollar is worth only 790 today, which means that a man must earn 26% more after taxes to buy the same goods. This year the erosion in purchasing power has sharply accelerated. A dollar received as recently as January is worth only 960 now, and at the current rate of price increases will shrink to about 920 by Christmas...