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...passengers climb aboard, the driver collects their $65 balance. In cash. "Travelers checks are too hard to handle," the voice on the phone had said. Only 20 people get on; the rest are waving goodbye. Instead of regular rows of seats two sofas face the aisle up front. Beyond that, amidships, is a card table, one side supported by a length of nylon rope tied to a metal ceiling rack. A long, cushioned sleeping platform, raised about 2 ft. off the floor, fills the whole rear half of the bus. The ponytailed bus driver (there are two drivers aboard) tells...

Author: /time Magazine | Title: A Hippie Bus from Coast to Coast | 2/12/1979 | See Source »

...million) became the first in the nation to cut rates after nearly a year of steady increases. Last week he was out in front again. He chopped Southwest's prime lending rate to its most credit-worthy borrowers a quarter-point, to 11.5%, touching off speculation that a climb of almost two years in the prime might soon...

Author: /time Magazine | Title: Business: Savers' Bonanza | 2/12/1979 | See Source »

Their popularity has soared along with T-bill rates, which have climbed from 7.75% in June to a high of nearly 10% in January, although lately the rate has eased back slightly. Already MMCs account for a startling $80 billion in deposits, and some bankers are wondering whether they were such a good idea. Their purpose was to keep banks flush with mortgage money, which dries up when interest rates rise and people begin emptying out savings accounts to buy high-interest bonds. While the MMCs have prevented that from happening, they have also led banks into a tight profit...

Author: /time Magazine | Title: Business: Savers' Bonanza | 2/12/1979 | See Source »

...nestled in a clearing appeared deserted. This was remote Guajira province in northern Colombia, which stretches from the Caribbean up into the rugged hills and ravines of the Sierra Nevada de Santa Marta. Suddenly three shots rang out, reported TIME Correspondent Donald Neff. His Cessna twisted into a steep climb and fled to safety...

Author: /time Magazine | Title: The Colombian Connection | 1/29/1979 | See Source »

Some of the biggest and most controversial components of the budget are projected to climb most steeply of all. In keeping with a pledge that Carter made to the U.S.'s NATO allies last spring, defense spending will rise 3% in real terms, to $125.8 billion in fiscal 1980. Much of the increase will go for strengthening U.S. forces in Europe as well as for upgrading the nation's strategic arsenal of nuclear-equipped missiles, planes and submarines in order to improve the Administration's bargaining stance in the current SALT talks with the Soviet Union. Carter...

Author: /time Magazine | Title: Business: Reining in a Runaway Budget | 1/29/1979 | See Source »

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