Word: civilization
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Dates: during 1970-1979
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That gloomy forecast reflected Somoza's growing diplomatic isolation as well as his deteriorating military position. The first setback came when the Andean Group (Ecuador, Peru, Bolivia, Colombia and Venezuela) abandoned its efforts to negotiate a truce in the latest flare-up of the 19-month-old civil war. Instead, the five countries declared that a "state of belligerency" existed in Nicaragua and that they considered the Sandinistas to be "a legitimate army." The declaration was designed to allow the group to supply arms to the rebels without violating international laws against intervention in the internal affairs of another...
...more ominous from Somoza's viewpoint was a U.S. request for intervention that would end both the civil war and his family's 46-year dictatorial rule over Nicaragua. The day after a national guardsman wantonly murdered ABC-TV Correspondent Bill Stewart (see PRESS), the Carter Administration spurned the dictator's emotional appeal for the U.S. to "pay back the help we gave in the cold war"-referring to the launching areas that Nicaragua provided for the ill-fated Bay of Pigs invasion of 1961. Instead, Secretary of State Cyrus Vance urged the Organization of American States...
Because of the civil war, Nicaragua's economy, already reeling from an almost total withdrawal of foreign investment and a cutoff of U.S. economic assistance, has been dealt a blow from which it will take years to recover...
TIME has learned that since last November the Securities and Exchange Commission has been quietly investigating Firestone. In a thrust that could be applied to other companies, the SEC is weighing whether firms must report to shareholders actions that officers know might risk civil penalties-such as discharging pollutants or making faulty products. Thus the SEC is interviewing Firestone officers and probing company records to see whether top executives knew about and should have disclosed the 500's problems much earlier...
...same time, private companies were paying as much as 90% of their profits in direct and indirect taxes. A bloated civil service, 420,000 strong, was required for an island population of 14.5 million. Recalls Rajah Maharaja, a leading businessman: "Many civil servants indulged in vindictive interference...