Word: dollarization
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Dates: during 1980-1989
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...trillion-dollar question: What kind of defense...
...premise is familiar enough: A respected director loses all credibility after the failure of his latest multi-million dollar flick. And the film moves quickly at the beginning. After a brief segment from Felix Farmer's (Richard Mulligan) epic disaster, the camera turns to Felix himself. Staring at Variety catatonically as his wife leaves him, he decides to kill himself by inhaling the exhaust of his $80,000 Cadillac. Julie Andrews, as Sally Miles, Farmer's wife and the star of his films, plays herself. When told by her lawyers that she should not seek a divorce in the wake...
Further, the parties to the summit have had some awkward problems getting their own acts together. The Europeans are united in protesting that the rising value of the dollar against their own currencies is kiting their oil-import bills, which have to be paid in dollars. Furthermore, high U.S. interest rates, which are pulling in capital from around the world, have forced European nations to keep their own interest rates high, thus deepening a Western European recession (see ECONOMY & BUSINESS). But at their own pre-summit in Luxembourg two weeks ago, the Europeans could not agree on any common strategy...
...long as their cash flow remains relatively unimpeded-the DEA seized only $3 million last year-big-time drug dealers will not worry much about being arrested. They can easily post million-dollar bails and walk away never to be seen again (TIME, July 6). The forfeited bail is considered a normal business expense...
...limits of this big-is-beautiful philosophy may be severely tested in the coming months. No sooner had Du Pont and Conoco exchanged vows than Wall Street was abuzz with speculation about the next multibillion-dollar corporate link. The best bet is a union between Texaco and Cities Service...