Word: digitalizes
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Financial Vice President Thomas O' Brien said yesterday that faculty salaries are still "catching up" with increases in inflation from the mid 1970's. "I think we're carrying a hangover from double digit inflation," said Columbia Director of Admissions James McMenian...
Fighting to attract customers to these new accounts, S and Ls and banks are offering a bewildering array of double-digit interest rates, bonuses and prizes. The competition may threaten the survival of hundreds of small institutions that cannot afford to match the come-ons of their rivals. Says Robert Lackovic, executive vice president president of the San Francisco-based 1st Nationwide Savings: "It's going to be a real dogfight. The one thing regulation did was to produce a system in which the consumer knew he could walk in anywhere and get the same product. That...
...real world, with its double-digit unemployment and double-digit inflation rates, beckons--at least for those who have decided to pass up the detour through graduate school...
...Workers, the country's most powerful union organization. After the February devaluation of the peso, Velásquez won wage increases of 10% to 30% for Mexican workers. As a result, the devaluation did not significantly help the competitiveness of Mexican exports, and inflation moved toward the three-digit range. On the eve of De la Madrid's inauguration, Velásquez had threatened strikes unless further wage hikes were granted. Most of the walkouts never took place, and the garrulous Velásquez has decided to play a wait-and-see game...
Other forces are at work to discourage buying, especially of big-ticket items such as refrigerators and washing machines. Two or three years ago, when inflation was steaming along at double-digit levels, a philosophy of buy-now-before-the-price-goes-up gripped the consumer. Sales of consumer durables held their own. Now, with inflation limping along at an annual rate of about 5%, there is no rush to buy expensive items. In fact, it often pays to wait. Says Irwin Kellner, chief economist at Manufacturers Hanover Trust Co.: "Buyers see that the longer they wait, the better...