Word: dollar
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Dates: during 1970-1979
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Writers' reputations are as volatile as dollar stocks. Henry James has been up and down the literary Dow Jones so often that his pants are shiny from the ride, while Rudyard Kipling, who won the Nobel Prize for beating the drums of imperialism, is read these days-if he is read at all-almost exclusively by children. Sinclair Lewis, the great name of the '20s-and the first American to win the Nobel for literature-is noticed only by spiders on library shelves, and John Dos Passos, who dominated the '30s, is all but forgotten...
...Monetary Fund has just approved a $530 million stand-by loan, and the European Community has put up $500 million. The lira, artificially propped up by tight controls for the past year, once again is being traded on the free market and is holding steady at 882 to the dollar. But an unchecked inflation, now running at 21.8% a year, threatens these achievements. In order to check prices, Premier Giulio Andreotti is planning to reduce economic growth to zero this year...
CANADA is handicapped by high labor costs, pushed upward by four years of inflation., Canadian goods are being priced out of the world market, creating a sizable trade deficit ($1.1 billion in 1976), a flight of investment capital and a fall in the value of the Canadian dollar (it is now worth only 94?-96? U.S., compared with $1.03 in late 1976). At 8.1% of the work force, unemployment is the highest since the government began collecting figures...
...brought the revival was not all Schmücker's. What ailed Volkswagen two years ago was obvious enough: the work force was swollen, consumers around the world had grown tired of the company's ubiquitous Beetle, the rising value of the German mark had pushed up dollar prices of the company's cars enough to slash sales in the all-important U.S. market (they fell by about a third in 1974-75). The remedies were equally clear: cut the labor force, bring out new models, build a plant in the U.S. to make cars whose prices...
Even without promotional fanfare, about 2 million bottles of Perrier are sold in the U.S. each year, mostly to discriminating, well-heeled "Perrier freaks," who are willing to hunt down the drink in expensive gourmet shops and pay a dollar or more for a 23-oz. bottle. One of the latest In drinks at high-priced Manhattan restaurants is a glass of Perrier with a piece of lime. Source Perrier believes that sales of its nonfattening water will be further helped by the U.S. Government's proposed ban on saccharin, which will eliminate many U.S. diet drinks that...