Word: dol
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When members of the Women's Equity Action League (WEAL) filed a complaint with the Department of Labor (DOL) last month charging the Kennedy School with violating federal affirmative action hiring codes, they vowed to "keep up the pressure" on the school. This week they kept their promise...
...this money eminently spendable. If Exxon earns $100 million on sales in Europe and deposits it in a U.S. bank's Lon don branch, the money becomes Eurodollars, and the bank can lend it to some other company to build a plant in Turin or Trenton. Because the dol lars are outside the U.S., the bank is free from Federal Reserve rules that require it to keep as much as 16.25% of its U.S. demand deposits frozen rather than loaned out. Since this free dom lowers the bank's costs, it can pay perhaps 1% more interest...
...central bank, announced that he would look into setting up an Islamic banking structure in which no interest would be charged on loans. Most hotels and restaurants began to conform with a prohibition on alcoholic beverages. X-rated films disappeared from cinemas, and television programs like The Six Million Dol lar Man will no longer be broadcast. A mutton shortage loomed as a result of the Ayatullah's ban on meat imported from Australia and New Zealand. Because the importers could not prove that the sheep had been slaughtered according to Muslim standards, he declared the meat...
...deliver $1 million worth of steel to the U.S., with payment due in 30 days. Rather than wait to receive the dollars, which by then might be worth fewer yen, the company quite probably will immediately sell $1 million for as many yen as it can get, with the dol lars to be delivered in 30 days. U.S.-based multinationals do essentially the same thing. Hercules Inc., a major chemical company, in 1971 negotiated a five-year loan in Swiss francs, on terms that appeared to be favorable. But by 1976, the dollar had plunged so much against the franc...
Senator Tower's office requested that the $2.2 million migrant-worker-program grant be given to the pro-Administration Lower Rio Grande Valley Development Council as opposed to the consortium of OEO CAP agencies. DOL has already announced that the OEO groups have the best proposal. If the Development Council were to receive the grant, there would be a significant plus for the Administration, as OEO's negative voice would be silenced, and the Council's positive feelings towards the Administration could be stressed. DOL has told Tower that the grant will be awarded to Tower's choice. Tower will...