Word: dollarization
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Dates: during 1980-1989
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...even afterwards, when CityStep was having some financial difficulties, Russell proposed setting up a matching fond in which the city would match Harvard dollar for dollar in contributions for the kids' show...
Multibillion-dollar mergers and acquisitions used to constitute high drama in the corporate world. Today, however, these episodes seem to be just business as usual. Last week talk of mergers brewed on three major fronts. Nabisco Brands (1984 sales: $6.3 billion) held exploratory talks with R.J. Reynolds (1984 sales: $13 billion). Wall Street speculates that Reynolds, which sells cigarettes, Kentucky Fried Chicken and Del Monte foods, would pay some $5.3 billion to gobble up Nabisco, king of the snack cupboard and maker of Oreo cookies, Ritz crackers and Baby Ruth candy bars...
...more. Families in the upper middle class would get the smallest cut, an average of little more than 4% in the $50,000-to-$200,000 bracket. In the lower groupings, while the cuts would be larger in percentage, many will be quite modest in dollar amount. The Treasury estimates the average reduction for all taxpayers earning $50,000 a year or less would be about $200 a year...
Volcker made his name in the public sector while serving as President Richard Nixon's under secretary of the Treasury for monetary affairs. In an effort to rescue the lagging dollar and rebuild the troubled international finance system, Volcker engaged in his own version of shuttle diplomacy. He traveled to international banking capitals and met with foreign finance leaders, ultimately restructuring the international debt...
...England Electric System President Joan T. Bok '55 is also the president of the 30-member Board of Overseers, a largely ceremonial, alumni-elected body which rubber-stamps Corporation decisions. Bok--no relation to President Derek C. Bok--sits on the board of Worcester based Norton Company, a billion-dollar manufacturer of abrasives, chemicals, diamond drilling products and other goods. Company spokesman Francis J. Doherty says 1400 of the company's 19,000 employees work at Norton's South Africa manufacturing facilities. The company has the top rating for adhering to the Sullivan Principles, Doherty says...