Word: dollar
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Dates: during 1970-1979
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...almost twice those of European firms, partly because productivity is higher. The U.S. has become something of a cheap-labor market in comparison with its European trading partners. Until the early 1970s, European labor was less costly than American. But all that has since changed. Washington devalued the overpriced dollar, inflation gathered momentum in Europe, and powerful European labor unions began winning not only higher wages but all sorts of other benefits...
Divorced. Christina Onassis, 26, daughter of Aristotle Onassis and principal heir to his multimillion-dollar shipping fortune; and her second husband, Alexander Andreadis, 32, heir apparent to his father's banking and industrial empire; after two years of marriage; in Athens...
Still, there is one thing Cambridge lacks. "I used to live in Rome, and we drank mineral water all the time," Gowing said. "You can't get it here, so I drink this stuff, he said, flourishing a flask of Perrier water. "I have to pay a dollar for it at Cardullo's--that's way too expensive...
...accounting for 55% of General Dynamics' total revenues ($2.5 billion last year), the firm is the nation's largest defense contractor. With nearly a decade of squabbles with the Pentagon regarding cost overruns on the F-111 fighter now behind it, General Dynamics' current multi-billion-dollar contract to produce 500 hot, single-engine F-16 interceptors for four NATO countries and the U.S. promises to keep earning income for the company for perhaps the next two decades...
...data, which show that present seat belts will save 50% more lives than air bags"-assuming, of course, that seat belts are consistently used. American Motors said the ruling was made "without clear evidence of [the bags'] lifesaving effectiveness over present belt systems [and] is a multi-billion-dollar gamble with consumers' money...