Word: classics
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Dates: during 1970-1979
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Iran and Libya urged that OPEC adopt the classic market-tightening tactic of cartels: production cutbacks of 5% to 10% that would keep prices high even if demand sags. But several members, including Venezuela, resisted on grounds that production levels are a matter of national sovereignty. Among those opposing the cutbacks was Iraq, which has invested heavily in oil development and is now pumping some 3.7 million bbl. daily, making it OPEC'S second largest producer after Saudi Arabia (9.5 million...
...Patriotic Front have been forged into an efficient guerrilla force. Despite their edge in air power, some of Zimbabwe Rhodesia's white-led array units have been routed by rebel forces that are now equipped with Soviet Kalashnikov automatic rifles, portable antiaircraft missiles and other sophisticated arms. Employing classic hide-and-seek guerrilla tactics, the "boys," as they are affectionately called by the villagers who harbor them, have achieved control over much of the countryside. On occasion they have even left the bush to strike in Salisbury: a year ago, a raiding party blew up a gasoline depot, destroying...
DIED. Ann Dvorak, 67, brunette film star of the '30s and '40s who debuted as Paul Muni's sister in the 1932 gangland classic Scarface; of cancer; in Honolulu. The smoky-voiced Dvorak was best known for playing suffering, hard-luck women opposite such stars as James Cagney (The Crowd Roars), Dick Powell (College Coach) and Spencer Tracy (Sky Devils...
Clark's dramatic downfall took place over a classic bread-and-butter issue: the budget. At stake was an austerity program that had been outlined two days before by Finance Minister John Crosbie. The program's goal was to raise an extra $3.5 billion in Canadian tax revenue in order to move toward full energy independence for Canada by 1990. Unfortunately, it was not as simple as it seemed. Crosbie's budget called for whopping tax increases on gasoline, heating oil and alcohol, and a 5% surcharge on corporate taxes. The gasoline tax alone would be increased...
...fuzzy tights, pants rather than skirts, blazers and all kinds of sweaters, from shetlands and turtlenecks to cashmeres and one-of-a-kind bulky knits. Impulse buying is on the wane. "Shoppers are more money conscious this year," says a Chicago retailer. "They're going for longterm, classic looks...