Word: clampdown
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...prices, stock quotes, sex fantasies or rock-concert schedules. Prices run from as little as 50 cents a call to nearly $5 for the first minute. Total revenues are expected to reach $450 million this year, up 50% from 1987. While the industry has already encountered a legislative clampdown that could limit the use of dial-a-porn and party lines, investors believe legitimate caller-paid services have huge growth potential. "This is a hot, faddish business right now," says Chris Elwell, senior editor of the Information Industry Bulletin. "But it's only in its infancy...
Since the crash, many legislators have urged a clampdown on program trading, in which large blocks of stocks and futures contracts are simultaneously traded to reap a quick profit from price discrepancies. The Big Board has imposed its own safeguard: a ban on the practice whenever the Dow Jones industrial average falls more than 50 points in one session. But the new study is likely to ease the pressure for more controls. Said Robert Kirby, a Los Angeles money manager who has attacked program trading in the past: "If the numbers stay like this, it may go away...
...clampdown in Managua pushed already strained U.S.-Nicaraguan relations close to the breaking point. Declaring, "We are going to return the favor," President Reagan ordered the expulsion of Nicaraguan Ambassador Carlos Tunnermann and seven of his fellow diplomats. But the most potentially far- reaching U.S. response was a renewed drive for military aid for the contras. Though the issue was virtually dead before last week, Reagan pledged his support for a $47 million assistance package, introduced Wednesday by Senate Republican Leader Robert Dole, that includes $20 million for weapons and ammunition...
Today most political activity in the territories is banned, and membership in political organizations is severely restricted. This has helped spawn underground nationalist and religious movements that favor radical solutions. Paralleling the clampdown on political thought is a policy of strict, often arbitrary censorship of all newspapers, magazines and books that circulate in the territories. Last week Israel launched its latest crackdown on the Palestinian press. It detained six journalists, held two for interrogation and ordered one jailed for up to six months...
Citicorp's decision could also bring an eventual clampdown on additional lending to Latin America and other developing regions. Certainly the Reagan Administration has reason to be concerned at that eventuality. The Administration's Baker Initiative calls for $20 billion in private loans to be issued to the Third World over the next three years in order to foster growth. The program has been slow to get rolling. Said one Manhattan economic consultant: "Some bankers believe Reed has killed the Baker Initiative...