Word: dollar
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Dates: during 1970-1979
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Harvard has launched a multi-million dollar fund for athletics: for new facilities, to refurbish old ones, and to increase the endowment for sports. There's something majestic about that kind of attitude...
...energy package must pass. "The entire world," he said, "is looking at our Government to see whether we have the national will to deal with this difficult challenge. If this legislation is not enacted, it will have a devastating effect on our national image, the value of the dollar, our balance of trade and inflation." The Governors were impressed. Said Julian Carroll of Kentucky, new chairman of the Governors' conference: "It would be catastrophic if this energy bill did not pass...
...Right now Texaco and Gulf are suffering through slumps that will be difficult to reverse. Some of the other companies' profits are being held down by a number of factors. Among them: lower sales in Europe and bookkeeping losses incurred by translating foreign-currency accounts into weakening dollars (if and when the dollar steadies, the Sisters' profits will rise...
EXXON, the world's largest energy concern, suffered an 8% drop in profit last year, to $2.4 billion, but only because the weakness of the dollar increased the number of greenbacks that will be needed to pay off its foreign debts. In the first half of this year, however, its net increased 13%, to $1.4 billion, and the quarterly dividend was raised 10? a share, to 85?. Exxon is a prize example of strength begetting strength. It has bid top dollar on the choicest drilling leases around the world and has participated in all the major new finds...
...imports of automobiles, machinery and other goods. Though the import flood is expected to ease off eventually, this year's trade deficit will probably hit a record $30 billion or more. The bad trade news sent gold prices up and all but kayoed a brief comeback of the dollar on foreign exchange markets...