Word: fiat
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...compromise was apparently reached at the not-so-gentle behest of White House Chief of Staff Donald Regan, who felt that the dispute was politically damaging to the Administration. Regan's fiat came after Meese's Justice Department launched a surprise attack in August by submitting a draft of a presidential order that effectively branded Labor Department hiring goals as illegal quotas. The tactic raised such a ruckus that the Justice Department judiciously retreated. Regan then told Meese and Brock to come to an agreement on their dispute before taking it to the President...
...proper Cinderella, as is the royal custom, she was still dancing at 2:30. A month later, while Charles was away, her sister Lady Sarah McCorquodale persuaded Diana to go to a country house ball in Leicestershire. The bachelors were too timid to ask her to dance. Exercising royal fiat, Diana grabbed one young man and said, "Come on, for goodness sake, let's dance." She did, until...
...devaluation can no longer even be attempted by fiat, as used to be the case when every government set an official rate at which its currency could be exchanged for other monies. Under the system of floating exchange rates that has prevailed for the past dozen years, governments can try only to influence the decisions of money traders and their clients, who can switch tens or even hundreds of billions of dollars within hours (see box). And many complex factors have been keeping the dollar high. To bring about a deep and lasting drop may require not only prolonged...
...played host to Richard Nixon, Publisher Malcolm Forbes and Chris-Craft Chief Herbert Siegel all at the same time. "They all looked at each other," recalls Italian Owner Sirio Maccioni. "Maybe they were thinking, 'Do I have the right table?' I could put Mr. (Giovanni) Agnelli (whose family controls Fiat) anywhere. Europeans might complain about the food, but not the table." Some sybaritic loungers, of course, treat the U.S. as just another dish on the international smorgasbord. Young, titled transients from Europe and South America are drawn to the action in New York City, where they are politely known...
That same year, De Benedetti accepted the post of managing director of Fiat. But after 100 days on the job, he submitted his resignation for reasons that neither he nor Fiat has ever revealed. In early 1978, Olivetti's board of directors offered him the same job with its company. He bought $17.3 million worth of the stock to become Olivetti's largest shareholder...