Word: fractionating
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Dates: during 1970-1979
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HUGHES Tool had a portfolio of securities, but by now the depression was deepening and stocks, bonds, government securities were bringing a fraction of their value. It was the worst possible time to sell any securities, but I cleaned out the portfolio to finance his moviemaking. I particularly remember a line of Australian government bonds, for which we had paid a premium prior to the crash. I sold them off at $38, barely more than a third of their par value...
State and local governments are making an extra effort to uncover welfare cheating, though normally only a small fraction of recipients are involved. Last September, New York City Comptroller Abraham Beame disclosed that 100,000 welfare checks adding up to almost $9,000,000 had been forged over the last five years. Any client who claimed that he lost his check would routinely be issued another by obliging welfare workers, making chiseling a simple matter. When their shoe allotment was cut off in 1968, many recipients simply put it on the other foot, as it were: the bills for orthopedic...
...nearly $50 billion in dollars that have left the U.S. in recent years and flooded Europe's central banks. Any long-term monetary agreement must find a way for dollar-choked nations to convert their holdings for something besides gold, since current U.S. gold reserves cover only a fraction of dollars held abroad...
...with some at more than 10%. Labor leaders, including the five on the Pay Board, insist that those raises be granted, and that people who lost out on increases during the freeze get them retroactively. Many economists figure that labor costs would rise by only a small fraction if all the contracted increases were allowed. The Administration is reluctant to make exceptions to any policy of curbing wage raises. But the President may well have little choice other than to permit some of the raises so that George Meany will have no excuse to lead many unions out on strike...
...increase in cost resulting from the substitution was termed a "small fraction of the total cost" of the Center by Bernard Budiansky, McKay Professor of Structural Mechanics, and structural consultant at the July review session. The total cost of the center, scheduled for completion by September, is estimated at $17.6 million, exclusive of laboratory equipment...