Word: dollarization
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Dates: during 1980-1989
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Last year the Pentagon sold $1.6 billion worth of surplus for $89 million, which comes to less than 6? on the dollar...
...social-welfare system, although both favor long-term reductions in the country's U.S. $22.5 billion federal deficit (7.7% of last year's G.N.P.) and a more receptive climate for foreign, particularly U.S., investment. Among the problems the next national leader will face: 11.3% unemployment and a dollar that is now worth less than...
Nonetheless, banks, pension funds and other lenders dazzled by the gains being made in leveraged buyouts have been rushing to assemble billion-dollar cash pools to be used for the deals. That will make more loans available to buyers who actually make the buyouts. Even small investors will soon be able to get into the game. The brokerage house of Dean Witter Reynolds plans to offer a leveraged buyout fund that will allow individuals to participate for as little...
...strong dollar has helped Komatsu, Caterpillar's powerful | Japanese competitor, to gain ground. Because of lower labor costs and a cheap yen, Komatsu is selling similar machinery for up to 30% less than Caterpillar in places such as Latin America and Africa...
...attempt to remain competitive, Caterpillar has been drastically reducing overhead. It plans to close five of its 22 U.S. plants, plus one in Britain, and it is ending the manufacture of lift trucks in Ohio and moving some production to Britain and South Korea. "The strong dollar actually encourages the transfer of manufacturing to places other than the U.S.," says Erskine Chapman, Caterpillar's head of worldwide sales. The company has arranged new manufacturing agreements with firms in South Korea, West Germany and Norway. Executive Vice President Peter Donis recently hinted that Caterpillar may even reduce operations in Peoria...