Word: dollarization
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Dates: during 1980-1989
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...some of its autos and vans will have wide appeal despite stiff European and Japanese competition. Unlike GM and Ford, Chrysler does not have European automaking subsidiaries, whose sales could be threatened by the export push. Says Robert Lutz, a Chrysler executive vice president: "At 240 yen to the dollar we were doomed. But at 150 yen we have a shot. I see real potential in the European market...
...Francisco law firm of St. Clair, Zappettini, McFetridge & Griffin was in a jam. Embroiled in a complex defense of an asbestos manufacturer as part of a multimillion-dollar liability suit, the six-member partnership faced a shortage of able-bodied attorneys to handle depositions. St. Clair's solution: the firm hired six lawyers for the job as temps. In the same fashion, when St. Luke's Hospital in Duluth, Minn., needed a qualified radiologist to work for just a month to cover for vacationing staff, they rented the services of a physician who had most recently done similar stints...
...NEVER interned. Armed with a Crimson Ph.D., $600 and an idea for storing computer memory, he started Wang Laboratories. But the road to building a multibillion-dollar corporation was fraught with obstacles, not the least of which were the legal battles with IBM over the patent on his idea...
...hire the faculty and create the programs necessary to realize his plan, the new dean said in an interview that he will initiate a multi-million-dollar capital campaign to increase the 170-year-old school's relatively meager $30 million endowment...
...strong hope for an improved trade situa tion, the economists agreed, would be a still weaker dollar. Indeed, Treasury Secretary James Baker prompted a new dip in the dollar's value last week by declaring that the currency may have to come down further to force a shrinkage of the trade deficit. If the greenback were to fall another 15% against all currencies, Economist De Vries figured, it would slash about $50 billion from the deficit. One reason: foreign manufacturers would finally be compelled to push their prices up substantially on goods sold in the U.S. The rise in import...