Word: dollarization
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Dates: during 1980-1989
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...breakfast meeting of some 200 U.S. Chamber of Commerce lobbyists in Washington, D.C. Watt was talking about a five-member commission that he had appointed at congressional behest to review Interior's much debated program of coal leasing on public lands, which has been called a multimillion-dollar giveaway at taxpayers' expense. Watt may have meant to extol his choice of commissioners, but what came out was something else. The panel, he said, had "every kind of mix you can have. I have a black, I have a woman, two Jews and a cripple." And, the Secretary added...
Only a year ago, hardly anyone outside the close-knit world of commodities trading would have recognized the name Marc Rich. Obsessively reclusive, Rich kept his billion-dollar business behind frosted glass. But now Rich is on his way to becoming infamous as a white-collar fugitive. After 18 months of investigation, a grand jury in Manhattan last week accused Rich and some of his associates of evading at least $48 million in U.S. income taxes. U.S. attorneys called the case "the largest tax-evasion scheme ever prosecuted...
...PUSH, Jackson's Chicago-based Black self-help group; the potential split which might occur among the middle-class Black leaders and politicians, though mass enthusiasm could still force anti-Jackson leaders into a more conciliatory stand; questions about Jackson's administrative capacity to run the $2-4 million-dollar campaign he needs to survive in the primaries; concerns that Jackson is an egotistical climber looking to become the one national Black political leader; and the possibility that a Jackson candidacy would drain votes from Walter Mondale's effort, increasing conservative John Glenn's likelihood of gaining the nomination...
...concept of searching for wealth among the ruins to bankrupt companies. Paying cut-rate prices, the Management Company's Phoenix Fund acquires bonds issued by now-bankrupt firms "where capable people can see value," Cabot explains. After buying a foundering company's issues at, say, 30 cents on the dollar, its eventual recovery can prove to be quite lucrative...
...comes off the print mills, but the factory management is under considerable pressure to pursue Western markets and make dollar profits, which are the great prize. Can American textile workers possibly compete? Six dollars a week against an average North Carolina wage of $250 a week less deductions? In Shanghai, the net cost of the labor that goes into making a man's suit is $2. New York's garment industry ? or Philadelphia's, or Chicago's ? cannot compete with that. But what share of the American market do the Chinese plan to capture? And do we wish...