Word: cautions
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...many observers of the trial have pointed out, the jury decision and the judge's subsequent upholding of that decision in effect admits the existence of a tribe when no political and legal consequences would ensue. The decision expresses a calculated caution. The judge notes that because of the "severe consequences" of declaring the Indians a tribe--returning the land to the Indians--he believes he had to establish a rigorous definition of tribal status. But he also states in the decision that the Indians may still be considered a tribe "for other purposes, such as Federal aid programs...
...rates, the widespread expectation of an economic slowdown late this year or in 1979, the threats of energy shortages and increasing Government regulation. Their rather chilling conclusion: strongly as the economy is performing now, the longer-term risks are genuine and serious enough to justify the executives' considerable caution...
...irrational. When you are uncertain about the environment for investment, then you will not commit your money, just as someone will not run in the middle of the street blindfolded." Otto Eckstein, head of Data Resources Inc., a Boston-based, computerized economic-forecasting firm, thinks that executives' caution should not even be described as "lack of confidence," but rather as "business realism...
...caution is potentially damaging. Adjusted for inflation, business spending on new plant and equipment is expected to rise only about 4.5% this year, v. the 7% increase the Administration calculates is necessary to keep the economy expanding. One reason: what Greenspan calls the "hurdle rates" for new investment have risen by two percentage points in the past decade. In other words, a company that once would have built a new plant or installed labor-saving machinery if it could expect, say, a 10% annual profit on investment, will not go ahead now unless it can foresee a 12% return...
Thus pressure is growing for the New Jersey Casino Control Commission to move faster, before any investors go bust, or turn to mob moneylenders. The danger, of course, is that a combination of greed and need will overcome caution and good intentions, making it easier for the underworld to penetrate legal gambling in Atlantic City...