Word: dollar
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Dates: during 1970-1979
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...alleged misdeeds center on a secret multimillion-dollar slush fund operated by the Department of Information when Mulder was Minister of the Interior and Information under former Prime Minister John Vorster. According to Mostert's report, some of the funds, intended for a covert campaign to secure favorable coverage for South African policies in the foreign and domestic press, were diverted to dubious business ventures and the personal pleasures of departmental officials. The main schemers were identified as the brothers Eschel and Deneys Rhoodie, who until a few months ago served as Secretary and Deputy Secretary, respectively...
...Smith's $17,500 and Yale's $20,000. Harvard is second in faculty "quality," since it pays a median salary of $27,200, while the California Institute of Technology is third, with $25,700. No. 1 is the University of Alaska, which pays top intellectual dollar, an average of $27,800, to lure academics to far-off Fairbanks...
...dollar's tribulations are focusing further attention on the trade problem with Japan. A main cause of the dollar's weakness is the U.S. trade deficit, which may run to more than $30 billion this year; the deficit with Japan will account for almost half of that. Economist Otto Eckstein of Data Resources Inc. in Lexington, Mass., last week declared that what is really needed to restore the dollar's health is "quick and dramatic relief from Japanese imports." In trade, says Eckstein, the Japanese "have done nothing for us." The Japanese, for their part, argue vehemently...
These huge imbalances not only cost American workers jobs and help fan U.S. inflation but have also contributed mightily to the weakening of the dollar. In theory, the 40% fall of the greenback against the yen over the past two years should have helped correct the U.S.-Japanese trade imbalance. This would happen if Japanese exports became more expensive and therefore less attractive to American buyers, thus cutting the cost of U.S. exports to Japan. To some extent, this has happened. For instance, Toyota's U.S. sales fell almost 8% in the first nine months of 1978, partly because...
...Productivity figures, Stokes concedes, "bounce around a lot." But even if the figures swing down again, U.S. industry could brandish a new study by the Organization for Economic Cooperation and Development on the relative competitiveness of 24 major industrial countries. It found that, largely as a consequence of the dollar's drop and rising world prices, the U.S. now enjoys the lowest production costs and highest profit margins of all the 24. Steeply rising U.S. export and import prices relative to all other OECD countries, including Japan and West Germany, provided U.S. manufacturers with ever widening profitability margins...