Word: embargos
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Dates: during 1970-1979
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Weiger also enlivened Midas' sleepy travel-trailer business, which the company acquired in 1965. The fuel crisis that followed the 1973 Arab oil embargo dealt recreational-vehicle sales a heavy blow, but Weiger took advantage of the downturn to mass-purchase chassis and their components. When the shortage passed, Weiger opened a 130,000-sq.-ft. manufacturing and assembly operation in Elkhart, Ind. He promoted the star of Midas' 30-model trailer, camper and motor-home lineup: the Midas mini-motor home, known as a Chopped Van. Midas buys the cab and chassis of a GM, Ford...
...accept the fact that the fate of most of the M.I.A.s will never be known. Beyond lowering its voice about the M.I.A.s, the U.S. will almost certainly refrain from blocking a new attempt to seat Hanoi in the U.N. Another early move could be to drop the existing trade embargo against Viet Nam, a measure passed by Congress last year but vetoed by Ford...
Diligent Crusader. In the 1974 Senate investigation into the causes of the oil embargo, similar charges of oil company profiteering were briefly aired and then forgotten. Blair has produced a 441-page work that is not so easily brushed aside. Until his retirement in 1970, he was one of Washington's most diligent and crusading economists. Corporate executives who were exposed to his withering questions in congressional hearings often regarded him as an anti-business radical. Actually, he was dedicated to reasserting the force of a free market, which he felt had been curtailed by the economic power...
...departments in which TIME sorts out each week's news remain fairly constant, but when the need arises, we create a new one. In 1973, when the Arabs put an embargo on oil, TIME added a section called Energy, which monitored the fuel shortage, assessed its impact on the economy and explored long-range solutions. When it seemed that the nation was beginning to develop a policy to cope with the problem, the section was phased out, although our readers were kept abreast of every development in other departments, including Nation, Economy & Business and Environment. This week...
When the economy turned sour, Lyndon Johnson could blame the war in Viet Nam. Nixon and Ford could say it was the Arab oil embargo. Jimmy Carter will only be able to blame Charlie Schultze...