Word: dollarization
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Dates: during 1980-1989
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...food-export ban was issued because the government believed, with some justification, that Americans were cleaning out Mexican stores of staple foods, many of which are subsidized by the government. By setting the official exchange rate at 70 pesos to the dollar, the August devaluation sent the price of a dozen tortillas down to the equivalent of 27? (vs. 82? on the U.S. side of the border) and a pound of sugar to 7? (vs. 30?). These items, along with eggs and meat, were among more than two dozen restricted for export...
...border. Indeed, the uncertainty has been the main factor keeping Americans from shopping for much of anything in Mexico. "The tourists are scared away," says Salesman Manuel Vasquez, surveying his empty marble-products shop in Juárez, which logically should be packed with Texans seeking more for their dollar. "Our business is off about 50%. Capitalism works. This type of stupid socialism doesn...
Frantic finale to a fourway, multibillion-dollar takeover fandango...
...auto-parts manufacturer, and Martin Marietta Corp., a leading defense contractor of Bethesda, Md., had become an embarrassing parody of Big Business in action. Seemingly unconcerned about the best interests of their stockholders or employees, some of America's top executives were threatening each other with multibillion-dollar stock ploys, while jetting cross-country for clandestine strategy sessions, tying up courtrooms from Michigan to Maryland and wasting millions of dollars in the process...
...free agency, and its promised million-dollar pot of gold at the end of the option year, it does not work in football. When the game's stellar running back, Chicago's Walter Payton, offered his services to other N.F.L. teams last year, there were no takers. Why would a franchise pay a premium for Payton (and give up two draft choices) when its profits scarcely change, win or lost? In fact, a team may fatten its bottom line by not making the playoffs. All 28 teams split the postseason television money even for the Super Bowl...