Word: five-year
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Commissioner Ueberroth formally entered the negotiations only after the key compromises had been made, but the final five-year agreement closely resembles a package he had started pushing a week before the strike deadline. Ueberroth chose to take a more visible role in the negotiations than did his predecessor Bowie Kuhn during the 1981 players' strike, which lasted 50 days. Indeed, Kuhn had kept such a low profile that reporters blackly joked that the strike never would have happened if Kuhn had been alive. Like most past baseball commissioners, Kuhn was widely regarded as the owners' man, hired...
...Mapinduzi, or Revolutionary Party. He will run unopposed in popular elections scheduled for this week. Meanwhile, in other parts of Africa, voters in the Ivory Coast (pop. 10 million) are expected this week to endorse 80-year-old Félix Houphouët-Boigny's uncontested bid for a sixth five-year term as President. In Liberia (pop. 2 million), however, opposition politicians continue to allege fraud in the recent balloting that President Samuel K. Doe, a former army sergeant who first came to power in a 1980 coup, says gave him a popular mandate...
Babe Ruth, who made $80,000 a year in his prime, would be stunned by what baseball players earn today. Since 1976 the average salary in the major leagues has jumped from $44,000 to $360,000 SPORTS ILLUSTRATED estimates that at least 36 players will make $1 million or more this year. Mike Schmidt, the Philadelphia Phillies' slugging first baseman, tops the list with $2.13 million. Salaries in other sports are also reaching the stratosphere. Doug Flutie, the quarterback for the New Jersey Generals of the U.S.F.L., has a five-year contract reported to be worth $7 million. Basketball...
...take out a new mortgage for more than the outstanding balance of the old one, the difference is returned to you as cash. Because the financing vehicle is a mortgage, you have a wide range of options: 30-year fixed (current average: 6%), 15-year fixed (5.6%) or adjustable (5.4% for a five-year adjustable). This is the perfect option if your existing mortgage carries above-market rates and you're not close to paying the loan off. Extending the life of a mortgage can add thousands in extra interest over the years. Also, refinancing generally adds about...
Researchers at Harvard and Brandeis Universities were awarded a $1.3 million grant from the National Institute of Drug Abuse last week to undertake a five-year study into the most medically and financially effective ways to combat substance abuse problems through managed care...