Word: dollarization
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Dates: during 1980-1989
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Thatcher then delivered what amounted to a valentine to U.S.-British relations. Her voice at times schoolmarmish but her delivery well modulated, the Prime Minister glossed over the battering of the British pound by the strong dollar, noting that "it is a marvelous time for Americans not only to visit Britain but to invest with us." On East-West relations, Thatcher insisted that the goal of the Soviet Union remained "the total triumph of socialism all over the world...
Afterward, the Prime Minister lunched at the White House with Reagan. The two friends discussed a range of issues, including the prickly matter of the robust dollar and the weakening pound. But Thatcher refrained from asking Reagan to adopt measures that could remedy what the British view as a crippling exchange rate. "Thatcher knows there isn't that much we can do," said White House Chief of Staff Donald Regan. "The dollar has hurt the pound, but it has also helped British exports...
...takeover artists play the role of sharks in the corporate sea, then risk arbitragers are the pilot fish who follow along and gobble up the stray morsels. What multimillion-dollar morsels these are, though. Arbitrage is the business of making profits from the price discrepancies that often turn up in financial markets. In takeover struggles, acquiring companies offer to pay more than the market price to ensure that stockholders will turn over their shares. When the so-called arbs see corporate raiders on the prowl, they buy blocks of the target firm's stock while the price is still...
...Philadelphia alone. These plaintiffs may be responding to a perceived shift in public opinion against the news media, or to a general litigious impulse in our society, or to the publicity given to strikingly high jury damage awards. In part, the press has itself to blame: the multimillion-dollar awards in recent cases have commanded headlines, but the reversals or drastic reductions in damages typically have rated a paragraph back among the want...
...dollar is more than just the currency of the U.S.; it is also the world's money. Until government leaders can find ways to make it much stabler, no businessman engaged in international finance or trade will be able to rest easy...