Word: costs
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Dates: during 1970-1979
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...most humiliating injury was suffered by Prime Minister Takeo Fukuda and his government. "I didn't sleep very well last night," admitted Fukuda after the disturbance. Irritated by the continuing demonstrations that have kept the completed airport idle since 1973-at a cost of $100,000 a day in maintenance and interest payments on construction loans -the Prime Minister had flatly declared that "Japan's prestige is at stake" and insisted that Narita would open for business in April. Now it could take months to repair the damage...
...Ditchley, through his grief, began dreaming of a nice vacation and maybe enough left over for a snowblower. Then the lawyers got into the act, clucking about what a mess Grandmother had left and how lucky Ditchley was that, thanks to their skill, the whole thing might not cost him too much. That made Ditchley worry about his own estate being picked clean, so he called on Thurmond Hotchkiss O'Mulvaney Garcia & Ginsburg, where a junior partner had a secretary copy a few paragraphs from a book and then presented him with a brand-new will and a bill...
Certainly there are exceptions. New York City, still seeking federal aid to fend off bankruptcy, was forced last week to find money to give a raise to transit workers and avert a threatened subway and bus strike. And the cost of removing last winter's mountainous snows has strained the budgets of some localities in the Northeast and Midwest. Not so, however, in the Sunbelt. For example, Houston, reveling in a record surplus of $24 million, is budgeting to train 500 new cops this year, more than triple the average for the past decade...
With assets of only $349 million, compared with Kennecott's $2.7 billion, Curtiss-Wright, a maker of aerospace parts and industrial equipment, does not have the financial resources to make an outright tender offer for Kennecott. That would cost some $750 million. Curtiss-Wright even had to borrow from its banks to buy its 10% of Kennecott stock...
...Berner succeeds and severs Carborundum, what is left of Kennecott will be anything but a prize property. One of the world's highest-cost copper producers, Kennecott thrives only when prices of its metal are handsome. Last year profits were a pittance of $300,000 on sales of $977 million. Copper inventories of more than 2 million tons are now overhanging the market, forcing the U.S. spot price down to about 620 per lb., below Kennecott's average cost. Some analysts, however, believe that copper might go as high...