Word: canadianization
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Dates: during 1980-1989
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...much of a birthday present for Lee Iacocca, Chrysler's celebrated chairman, best-selling author, television pitchman and, now, syndicated newspaper columnist. He turned 61 on Oct. 15, and less than 24 hours later some 70,000 American and 10,000 Canadian members of the United Auto Workers walked off their jobs at Chrysler. It was the company's first major U.S. strike since...
...sacrifice to keep Chrysler afloat, and we don't want to get thrown out of the lifeboat." The company's semiskilled assemblers now make $13.23 an hour, 6 cents an hour less than their colleagues at GM and Ford. Management says it has already agreed to parity for its Canadian employees and plans to do the same in the U.S., but no final accord has been reached...
...decades Canadian banking has been both highly concentrated and loosely regulated. It was a system, though, that seemed to work. The quiet was shattered last month with the collapse of two of Canada's 14 banks. They were the country's first bank failures in 62 years. Last week a financial crisis struck a third bank, the Montreal-based Mercantile Bank of Canada, the country's eighth largest, with assets of $4.4 billion (Canadian dollars). Mercantile, which is 24% owned by New York-based Citicorp, has been facing a severe cash squeeze. Investors who would normally buy Mercantile's commercial...
Mercantile's troubles follow the failure of two institutions in the oil- rich western province of Alberta: Calgary-based Northland Bank and Edmonton- based Canadian Commercial Bank. Incorporated in the 1970s, the two banks lent millions of dollars to oil and real estate businesses. Then in the early 1980s many of the banks' loans turned sour. Together the two banks controlled only about 1% of all Canadian bank assets, so the fallout from their failures was limited. But investors are anxious about the safety of smaller banks...
...Johnny Appleseed, but for now he serves as a useful emissary between the whites and the nearby encampment of Delaware Indians. The local chief has made a treaty of peace, but he may not be able to restrain his warriors. It is 1812, the British are massing on the Canadian border, and the Shawnee chief Tecumseh has called for all Indians to arise against the settlers. Trapped by this turmoil is Lettiece Shipman, a freed slave from Kentucky who had hoped to go to Canada. In the meantime, she does laundry and sells sexual favors to Keene in return...