Word: clout
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...easing the charter regulations, the CAB said that it was reacting to "an irresistible and understandable public demand for low-cost public transportation." It was also reacting to the political clout of the officers of charter airlines, some of whom have made large campaign contributions. Today U.S. charter flights are about 50% cheaper than regular excursion fares on transatlantic routes. Under the new ruling, they may catch up with some of the European charter operators, who have given a tremendous lift to mass travel by offering surprisingly low-cost package tours...
...York City's Consumer Affairs Commissioner Bess Myerson, 48, best symbolizes the clout of official consumer advocates. Myerson, who was Miss America in 1945, is paid $35,000 a year. She has worked, wheedled and fought to gain power for her agency, including the right to write and enforce its own regulations against deceptive advertising, spurious vocational schools and high-pressure collection agencies. Her four-year-old, 350-member department is buttressed by a $3.5 million annual budget, and has a young legal staff that is empowered to move swiftly to prosecute businessmen who break consumer laws...
...controversy, however, still swirls around two other issues: negotiated v. fixed brokerage commissions, and the desire of institutional investors to buy memberships on stock exchanges. The arguments reflect the growing clout of the institutions. A decade ago, they traded one-third of all the shares on the New York Exchange; last year they accounted for 60%. The institutions have long chafed under the necessity of paying commission rates that are set by the exchanges to meet the costs of handling small orders from individual investors rather than the institutions' big-block trades. In addition, many institutions want...
...instrument of this entrepreneurial clout is the Armed Forces Mutual Assistance Fund (known as OYAK in Turkish), which was established in 1960 when a military junta temporarily seized control of Turkey. Under OYAK rules, regular officers (commissioned and noncommissioned) in the air force, navy and ground forces, who number about 80,000 in all, are required to pay 10% of their wages into the fund for eventual reimbursement. So far, OYAK has collected more than $100 million...
...proposal of their own to enlarge the delegations from the big states. But they ran into opposition not only from small-state conservatives but also from big-state conservatives such as Ronald Reagan and James Buckley, who do not want to jeopardize control even if it means less clout for their delegations...