Word: clouts
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Iran loses its oil clout...
...French insist that it is also essential for Western officials to remain in Tehran to support Iranian moderates like Banisadr. The Italians feel that their diplomats in Iran are particularly useful because they supposedly have clout with Iranian radicals. Italy's President Alessandro Pertini supported persecuted Iranian students during the Shah's reign...
Though oil companies are the world's favorite whipping boys, some energy and foreign policy experts worry about the implications of cutting them out of the petroleum business and having most trade done on a government-to-government basis. Such deals give the producers enormous potential clout over consuming nations. Explains a top energy official in Washington: "A small refiner, or even a small country, could find itself reliant on a single country for perhaps as much as half its oil deliveries. But the amount might equal no more than a tiny fraction of the producing nation...
...however, the convertible is making a comeback. In Florida several enterprising entrepreneurs are beheading standard model Toyotas, Datsuns, Cadillacs, Pontiacs and Ford Mustangs to recreate the mystery of a car without a roof. The Florida firms, such as American Clout Inc. and the Griffith Co., work only with new cars. In a 25-hour operation, the standard top is chopped off with a diamond-toothed saw and a polyvinyl one is installed. Unlike the convenient convertibles that Detroit once offered, Florida's new tops do not pop up at the first drop of rain. They must be mounted into...
America's $55 billion love affair with plastic money was on the ropes last week. Big retailers and banks began sharply reducing the borrowing clout of credit-card holders. J.C. Penney stiffened credit requirements, curtailed card promotions and hiked the minimum purchase eligible for time payments from $19 to $200. Banks, which had been deluging customers with Visa and MasterCard (formerly Master Charge) applications, suddenly throttled back the flow of easy credit. New York's Bankers Trust Co. slapped a $500 credit limit on new accounts and froze ceilings on existing credit lines. Chase Manhattan Bank said...