Word: clout
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Political Clout. The union was, and is, far from perfect. Qatar (pop. 85,000) refused to join because its proposed political clout would not be consonant with its huge economic wealth (roughly $240 million annually in oil royalties, or $2,824 per capita). The island sheikdom of Bahrain also declined; as the most populous (250,000) of the Trucial States it wanted more power than the other sheiks were willing to give. Both countries declared independence and have joined the United Nations, as has the Union. Qatar is now the U.N.'s smallest member...
...their meetings in Geneva over the coming weeks will be new price increases. The raises will hit consumers in Europe, Japan and the U.S. in the form of higher bills for gasoline, heating fuel and other products. They will also give much more economic power, and more international political clout, to the oil-exporting countries, most of which are in the Middle East...
Merrill Lynch's new prominence in investment banking lends substantial clout to a firm that already had resources far beyond those of its closest competitors, Bache & Co. and Du Pont, Glore Forgan & Co. In 1970, for example, when many brokerage houses were barely treading water, Merrill Lynch posted earnings of $40.7 million; what it lost on its sluggish stock business it more than made up in other operations like the trading of commodities and Government bonds. When the final figures are in, its performance for last year will be even more spectacular. In the first nine months, its earnings...
...intriguing case study in the operation of the new Democratic guidelines. Of the present candidates, Muskie is Gilligan's favorite. At this stage, endorsement of Muskie would constitute the most powerful boost yet to his presidential chances, and provide wheels for a bandwagon. Gilligan's political clout with Ohio Democrats is such that an endorsement would do more for Muskie than the recently announced support by Senators John Tunney of California and Thomas Mclntyre of New Hampshire...
...government redress for inadequate health care, housing, employment and income. Some 6,000,000 have joined politically oriented groups like the National Council of Senior Citizens and the American Association of Retired Persons, which lobby for legislation to aid oldsters. Last week, as proof of their new clout, some 3,500 men and women delegates of all races from all 50 states assembled for the second White House Conference on Aging...