Word: dollarization
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Dates: during 1980-1989
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...After a dramatic trial, the giant automaker won. Last week it compensated the parents of the three girls. The total amount: $22,500. In exchange, the families promised not to sue Ford in civil court. The $7,500-a-person payoff is a mere fraction of the million-dollar settlement Ford has agreed to in some of the 50 civil suits involving the ill-fated...
...investor who buys a financial future is betting that interest rates will decline or that a foreign currency's value will rise before his contract matures, thereby increasing the dollar value of the securities or currency that he has agreed to purchase. Margin requirements are low: a buyer may put up as little as $1,500 to buy a three-month contract for $1 million worth of Treasury bills, for example. Under a complicated formula, such a buyer might make a $2,500 profit if the interest rate was 8% when he bought the contract and 7% when...
Leading the parade of overseas visitors to the U.S. are Britons, whose numbers are expected to increase 30% this year to 1.3 million; the British have benefited in the past 18 months from a 20% jump in the value of sterling compared with the dollar, largely as a result of their mounting North Sea oil bonanza. Not far behind are the Japanese, some 1.2 million of whom are expected to visit the U.S. during the year, followed by the Germans (675,000), the Venezuelans (490,000) and the French...
...conditioners and the double-paned windows that you'll find are just one by-product of the Massachusetts Bay Transit Authority's (MBTA) half-a-billion-dollar decision to extend the Red Line subway to the northwest...
...there is much more going on outside the gates of the Yard that most students will never know about. Sequestered in an office in downtown Boston sit Harvard's treasurers, the men who handle the University's $1.4 billion dollar endowment--the largest in the country--and have decided to concentrate investments in oil, defense and the like. Things are better now; they weren't even watched back in 1972, when a group of angry students stormed Massachusetts Hall to protest the University's holdings in Gulf Oil which was operating in Angola, where racial tensions were running high...