Word: dollar
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Dates: during 1970-1979
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World money markets yesterday dismissed Carter's anti-inflation program as too little, too late and the dollar plunged to a record low in heavy selling...
...medicine does not seem to be working. Loan demand so far has remained robust. That is one reason the money supply has expanded at an annual rate of 11.3% in the past two months, well ahead of the Reserve's target limit of 6.5%. Nor has the dollar shown any appreciable signs of strengthening. Thus many experts believe that even higher interest rates are on the way, even though Reserve Chairman William Miller has said that borrowing costs are at or near their peaks. Henry Kaufman, a top money analyst at Salomon Brothers, believes the prime rate could...
Psst... want to speculate against the dollar? It's easy - even if the amateur lacks the cash or savvy to deal in the big-time foreign-exchange markets. For $26.75 almost anybody can buy a traveler's check denominated in German marks or Japanese yen; $32.95 gets one denominated in Swiss francs. The buyer can hold it as long as he likes and then cash it in at the exchange rate prevailing that...
Conrail is also plagued by high labor costs and uneconomic routes. Because it inherited the entire work forces of the six lines and has avoided large-scale layoffs, it spends 660 of every revenue dollar on labor costs, vs. an average 520 for other U.S. railroads. Clamoring Congressmen have blocked Conrail from eliminating service on a number of money-losing short lines that helped drive the six railroads into bankruptcy in the first place. Even Conrail's best trunk lines are short one-way hauls, with the cars returning to the terminal as empties. Explains William Druhan, a senior...
Until now, VW's Pennsylvania wage has averaged more than a dollar less than what Detroit's Big Three pay, and VW workers insist on catching up. In sum, the VW workers want at least $10 an hour by 1981. The walkout is the latest sign that labor leaders' clout with their membership is waning - an ominous portent for next year's heavy calendar of union bargaining. The VW strike is also unsettling other foreign firms that are thinking of starting plants in the U.S., notably Japan's automaking Toyota, Nissan (Datsun) and Honda. Says...