Word: dollarization
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Dates: during 1980-1989
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...that happens, 1982 is assured a place in the annals of American political campaigning. It was the year of two $10 million candidates, for Governor in New York and Texas. It was the year in which at least five House candidates broke or came close to the million-dollar mark, and even more incredibly, spending totaled more than $1 million in two state legislative races, both for seats in the California legislature that pay $28,000 annually. It was the year in which the Democratic and Republican parties backed up their local mudslingers with national negative advertising: the Democrats with...
Whether or not Harvard says it guarantees full aid, events are beginning to drive home the fact that the actual dollar figures may still fall short. Obviously, no aid office anywhere can undertake to provide every needy students with as much money as he could possibly want in any contingency. But as last year's statistics and this year's fears show, neither can it convince students that their aid package is sufficient if large groups of students and their families find it isn't. All the needy and/or minority students in the world could apply and be accepted...
Like a weight lifter who spends too much time in the gym, the U.S. dollar has become musclebound. It will take a further decline in interest rates and an international economic recovery before American currency can begin to be brought into balance with the rest of the world...
...major benefactor of the robust dollar is the American tourist. Especially in Europe and Latin America, U.S. visitors are getting much more mileage from their traveler's checks than they were a year ago. Even though some hotels that cater to well-heeled visitors regularly raise their prices to keep pace with foreign currency changes, good values abound. In Paris, a four-course dinner at the three-star Tour d'Argent goes for about $54, expensive by most standards but still $17 cheaper than two years ago, thanks to a 74.8% appreciation in the dollar against the French...
Roger Birk, chairman of Merrill Lynch & Co., stands as tall on the job as in his profession. Birk presides over the largest U.S. brokerage house from a brown walnut stand-up desk that he uses for everything from reading mail to signing multimillion-dollar deals. He acquired the desk ten years ago to help relieve the agonizing backaches that plagued him after long hours in a chair. Those pains are gone now, but the desk has stayed. Says Birk: "I find it pleasant and more practical than normal desks, and even tension easing...