Word: dollarization
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Dates: during 1980-1989
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...that way? Before the Civil War in this country those not necessarily in favor of slavery, but sympathetic to the slave interests, defended their inactivity by pointing to the obvious and apparently telling fact that there was simply too damn much money tied up in it. The sacred, almighty dollar once again! Our own comfort before everything...
Hawaii Seafood Magnate Richard Fowler did not hesitate when a Japanese company offered him $21 million two months ago for his Honolulu mansion. Naturally, he took it. The house was assessed two years ago at $2.6 million. Aided by the sharp decline of the dollar against the yen, the Japanese have spent some $3 billion for Hawaiian real estate in the past two years, more than all foreign investment in the state between...
...found what they -- and the Reagans -- had been looking for. In August 1986, Wall Management quietly bought the house and leased it back to the widow, who has since died. Reagan had apparently considered a few houses about a year and a half ago, but balked at the multimillion-dollar price tags...
While retailers often have to cut prices to move merchandise, the cost of importing many of the products they sell, including apparel, has surged because of the fall in the value of the dollar. The result is a severe squeeze on profits. The industry benchmark for an acceptable annual profit is a 15% return on stockholders' equity. But a survey by Management Horizons of 300 large U.S. retailers showed that only 33 of them have met that minimum standard for the past three years. Some of the others may not be around a year from now. Warns K mart Chairman...
Spurred by the weak dollar, foreign companies have become some of the most aggressive acquisitors. After Campeau took over Allied in 1986, he spun off some of its divisions to other foreign firms. Australia's Hooker Corp. bought Bonwit Teller from Allied, and Britain's Marks & Spencer agreed to buy Brooks Brothers...