Word: exoduses
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...days following the mass exodus from Phnom Penh, reports in the western press of brutality and coercion put these assumptions into doubt. But there were other reports on the exodus. William Goodfellow in the New York Times and Richard Boyle, the last American to leave Phnom Penn in the Colorado Daily reported that the exodus from major cities had been planned since February, that unless the people were moved out of the capital city they would have starved and that there was a strong possibility of a cholera epidemic. The exodus, according to these reports, was orderly; there were regroupment...
Jumping Turnstiles. For New York, says Rohatyn, default would probably mean "a business exodus and, more generally, a draining away of vitality." Businessmen who own New York bonds and use them as collateral for loans would have a hard time renewing their loans. Bankers who have underwritten the city's bonds and notes might be hit by lawsuits from investors, claiming that the underwriters should have known and disclosed the true financial condition of New York. Worried about the city's future, more and more corporations might abandon the nation's biggest headquarters town...
Meanwhile, an exodus of Portuguese is under way, and it is one the country can ill afford: a "gray drain" (as the Portuguese call the brain drain) of highly trained professionals such as managers, engineers, bankers, doctors, lawyers and economists. Most of these middle-class executives and professionals head for Brazil; by the end of this year, about 200,000 Portuguese are expected to migrate to Brazil to escape either the revolution at home or the changed situation in the liberated African territories...
Zooming air fares, European inflation and the dwindling power of the dollar have combined to squeeze the annual American exodus. From all indications, fewer than 7 million Americans will go overseas this year, down about 7% from 1974, and about 20% below halcyon 1973. Latest figures show that travel to Europe, normally the destination of three out of seven Americans going overseas, is off 10%. Notes Victor Minerbo, a familiar Parisian presence who for years has wheedled business for the restaurant in the Eiffel Tower: "Look around and see how many Americans you can spot! None...
...abandoned its premises to the workers. The G.N.P., which grew at an average rate of 6.2% in the 1960s and increased 8.1% in 1973, will fall a devastating 6% this year. The middle class, whose salaries have been frozen, have been crushed by the inflation; there has been an exodus of technicians to Brazil, Spain and other countries. Most workers, however, have escaped the worst effects of the soaring prices. Not only have wages more than doubled for those at the lower end of the pay scale, but paychecks keep coming even if factories are not producing. Reason: the government...