Word: cocoa
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Dates: during 1970-1979
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...infield shimmers with color, a kaleidoscope of uniforms and warmup suits. One thousand college and high school athletes jog slowly back and forth, stretch and massage tight muscles, crouch in imaginary starting blocks, huddle with coaches for last-minute strategy sessions, or loll on the synthetic green turf, sipping cocoa and waiting. Susan White, a 19-year-old hurdler from the University of Maryland, surveys the scene. There is a trace of awe in her voice: "When I was in high school, I never dreamed of competing in a national meet. People are finally accepting us as athletes...
...industries. But the majority of LDCS have been knocked backward in the 1970s by a devastating one-two punch: oil price boosts that have raised the cost of running the most primitive factories and farm machines, and recession in the industrial world that has restricted markets for cotton, copper, cocoa, tin and other raw materials sold by less developed lands. In many countries of Asia and Africa, economic growth rates have dropped to around 2% a year - not enough to keep up with population expansion, which averages 2.6% for the LDCs. The poor countries have borrowed a staggering $200 billion...
...them with. They are there with stacks of books, pen and paper, lecture notes. Some even go so far as to come fully attired, as if to punish themselves for wandering from the hallowed halls of academe. But most slyly tuck away the accouterments of the experienced sunbather--sunglasses, cocoa butter, iodine, baby oil or Sea 'n Ski (depending on skin type), towels, pillows, harmonicas, frisbees, blankets, congo drums (?!). All of this is hidden in bags and purses under layers of the Puritan ethic in the shape of school work. Take, for example, a young woman who dutifully begins reading...
...license as a commodity trading adviser from the Commodities Future Trading Commission, the federal agency created in 1974 to regulate the industry. He set up Lloyd, Carr in mid-1976 to specialize in the most speculative of all investments: options in futures of such items as coffee, sugar, cocoa and copper, which are traded on the London commodities market...
Warning signals about the Swiss system have been flashing on and off for several years. In 1970 the Basel branch of the United California Bank went broke after losing $50 million in cocoa futures trading. Around the same time came the collapse of Bernard Cornfeld's Geneva-based Investors Overseas Services empire, built with the assistance of Switzerland's loose banking laws -and in part with that of the banks themselves. In 1974 the Union Bank of Switzerland lost $56 million in foreign-exchange speculations, and the Lugano branch of Britain's Lloyd's Bank dropped...