Word: coppers
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Dates: during 1980-1989
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With all the money running through the public's fingers, the Federal Government is beginning to face a legal tender shortage. With the price of copper going up, people are hoarding pennies. A paucity of $50 and $100 bills has been reported in California, where they are widely used in "pyramid clubs" (the modern variation of the old chain letter), which usually require players to contribute $500 or $1,000 in cash. The Saudis also like $100 bills. In May, Saudi Arabian banks took delivery on $250 million in $100s...
...I.U.D.s are effective (up to 98%) for different reasons. Inserted into the uterus, they cause a minor inflammation of the uterine lining that prevents the fertilized egg from implanting in the uterine wall after its journey through the fallopian tube. Certain types of I.U.D.s also function by releasing copper or the hormone progesterone...
...years and is now a naturalized American citizen. Between 1967 and 1977, as chief executive officer of Amax Inc., a molybdenum mining and metals company, he transformed the sleepy firm into a giant natural resources company. In addition to coal, it has large holdings in oil and gas, copper, nickel and iron ore. Although MacGregor is credited with the foresight of having acquired metals and energy sources before their scarcity became apparent, he is criticized for a heavyhanded management style and for failing to keep a close eye on the company's finances. Says an analyst: "His attitude...
...rumors that insurgents had caused a landslide, killing 600 Afghan soldiers in a mountain encampment and destroying 40 tanks. A band of rebels reportedly crossed the border between Afghanistan and the U.S.S.R. and managed to kill 200 Soviet troops. The rebels also claimed to have exploded a newly completed copper mine in the Logar Valley and coal mines in Badakhshan. They have been putting pressure on farmers to cut back on spring planting. Partly for that reason, this year's grain crop will be only 75% of normal. When two grape growers pruned their vines, in violation...
...impact spreads. The rule of thumb in the housing industry is that the laying off of a single worker by homebuilders results in two additional layoffs in related industries like cement, copper tubing, building materials and wood. The signs are already ominous. Oregon Governor Victor Atiyeh reports that sawmills in his state are "closing almost daily." The Western Wood Products Association notes that 141 lumber mills in the twelve Western timber states have already closed and an additional 249 have curtailed production...