Word: eightfold
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...chairman since 1984, the daring new policy highlights his emergence as the country's most influential banker (see box). By making such a turnabout on the loans, Reed is moving out of the shadow of his predecessor and mentor, Walter Wriston, who was largely responsible for Citicorp's eightfold expansion between 1967 and his retirement. Wriston was also the premier spokesmen for the go-go lending policies of U.S. banks in the 1970s. Even though to some extent Reed's current action repudiates his former boss's strategy, most bankers think Wriston would have done the same thing. So does...
...strategy, buying media, and polling. These firms get paid by the candidates for electioneering services, and then paid by private clients to lobby the Congressmen they have helped elect. In the trade this cozy arrangement is known as double dipping. Special-interest giving to federal candidates has shot up eightfold since 1974, from $12.5 million to more than $100 million by the 1984 election. Nonetheless, PACs can give no more than $5,000 to a single campaign, and all contributions are publicly filed with the Federal Election Commission. "Elections are so expensive that the idea of a PAC's having...
...last decade, legislators have become regular customers of political action committees, the only contributors able to meet the high cost of political campaigns. In 1974, 608 PACs gave $12.5 million to congressional candidates; by 1984, 4009 PACs were donating $110 million, more than an eightfold increase. House members received, on average, 41 percent of their campaign funds from political action committees, according to Common Cause. The small individual contributor (now almost a romantic fiction) carries little political significance when matched up against the Sunkist PAC, which promises $5000 for every campaign...
...took off faster than any other personal computer since the launch of IBM's PC in 1981. Apple so far has sold more than 275,000 Macintoshes. The company, the symbol of U.S. entrepreneurial innovation, saw profits in the first quarter of fiscal 1985 zoom to $46.1 million, an eightfold gain from the same period in 1984. Yet Macintosh (basic price: $2,195) and its maker have a serious handicap. Many Macintosh buyers have been Apple's characteristic flannel-shirt clientele--students, hackers and do-it-yourselfers--who make up only one-third of the $38 billion personalcomputer market...
...going public, Vuitton will be cashing in on a remarkable boom. Sales of its luggage and handbags have surged more than eightfold since 1977, when Henry Racamier, a retired steelmaker whose wife is a member of the Vuitton family, took over as president. At the time, Vuitton had only one factory. Racamier added six more and opened more than 50 new stores in cities ranging from Singapore to Short Hills, N. J. As a result of the exuberant expansion, two-thirds of Vuitton's business now comes from high-fashion bag toters outside France...