Word: discounts
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Last week Greenspan proved those critics dead wrong. In an effort to keep inflation at bay, the Fed raised its discount rate from 6% to 6.5%. That bellwether interest rate, which the central bank charges on loans to financial institutions, now stands at its highest level in two years. Says Robert Hormats, vice chairman of the Goldman Sachs International investment house: "The increase, announced just a week before the Republican Convention, puts to rest any doubt about Greenspan's independence...
...hour -- these days bring more than twice that sum. Servers at some Burger King outlets in Massachusetts start at $8 an hour and receive raises of 25 cents an hour for every 90 days they work. Beyond that, they receive $1 an hour toward child care and can buy discount memberships at local health clubs...
...Pilots Association: "A computer can only react to the possibilities that have been programmed into it." Some experts speculate that because the Airbus jet's wheels were down as it swooped over the air show, the computers might have been tricked into thinking the plane was landing. Airbus officials discount this possibility...
...council-sponsored keg party in December flopped and the council had to sell much of the left-over beer at a discount. While many council members pointed to the new restrictive alcohol policy, others blamed the failure in part on insufficient advertising...
Because of the layoffs and currency shortage, the hardest-hit Panamanians are probably the members of the middle class. To help workers who are unable to cash their paychecks, the government is selling so-called dignity bags of rice, beans and other staples at a discount from regular prices. The crisis has brought relatively little new hardship for the poor, so far. Hereberto Lombaro, 33, says he makes about $20 a day selling fruit-flavored ices from a pushcart. "I don't care what the Americans do," he says, grinning up at the cloudless sky. "As long as it stays...