Word: cash
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Dates: during 1980-1989
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...Oakville, Calif., is the first U.S. winemaker to offer such contracts on a nationwide basis. An investor who buys a $240 contract on a case of 1985 or 1986 Cabernet Sauvignon Reserve is betting that the wines will increase in value by 1989. Because the contracts will bring in cash two years before the wines are usually sold, about 30 California vintners, including such names as Iron Horse and Diamond Creek, are following Mondavi's lead...
...well: protect customers' accounts. Not always, apparently. Police are looking hard for Robert Post, 35, a Polish-born electronics expert and former ATM repairman who brags that he is something of a magician. According to the Secret Service, Post last year managed to make some $86,000 disappear from cash machines -- all from other people's bank accounts...
That admission could bring on increasingly stormy international debt negotiations, since banks may no longer be willing to continue the seemingly interminable cycle of stretched-out loans and infusions of cash that have so far characterized the debt tango. At the same time, Citicorp's move could jar the Reagan Administration's so-called Baker Initiative to ease the international debt problem by encouraging moderate Third World growth through measured dollops of additional loans. Citicorp's decision to set aside funds puts pressure on other heavily exposed U.S. banks to do likewise. That policy, in turn, could help push...
...last September, when a committee representing more than 350 banks was negotiating a debt package with Mexico. Breaking ranks with his U.S. banking colleagues, Reed protested the terms of the final deal. Mexico successfully rescheduled $44 billion of old debts at bargain rates and got $6 billion in fresh cash that helped, in part, to make the interest payments. Reed finally went along after he was prodded by Federal Reserve Board Chairman Paul Volcker, among others. Citicorp nearly balked again this year when banks renegotiated $13.2 billion in loans with the Philippines and $30 billion with Argentina...
...manhunt, code-named WANT, for Warrant Apprehension Narcotics Teams, was conducted by squads of Marshals Service investigators operating out of eight cities and three foreign countries. Howard Safir, head of operations for the Marshals Service, conceived WANT as a way of getting at traffickers who have plenty of cash and ready-made support networks to hide them. In the past, says Safir, "if a drug trafficker was out more than 48 hours, he was basically home free...