Word: furor
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Dates: during 1970-1979
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Last week, however, the practice raised an international furor. London's Sunday Times, borrowing partially from a June story in the U.S. National Catholic Reporter, set it off by charging that empty convents in Europe were "buying Indian peasant girls from the [Indian] Catholic hierarchy." The Italian press quickly picked up the expose. British, Italian and Indian Parliaments rang with demands for an investigation. An Indian M.P. called the practice "slave trade." Girls were pressed into service as menials, the reports charged, while Indian clergy made a tidy profit...
...furor, the ban is not likely to cripple the industry. Less than 1% of its $300 million in annual sales comes from spotted cats; the bulk comes from the sale of minks and other animals bred for their pelts, which are not on the endangered list...
...Wall Street was swamped by its own prosperity. From early 1968 through May 1970, the stock exchanges shortened their hours to help overburdened back-office staffs cope with a mountain of paper work. The snarls persisted, delaying the transfer of stock certificates between buyers and sellers and creating a furor. Convinced that the trading bonanza was permanent, many brokers began an orgy of expansion, opening up costly new branch offices that they are now busy closing. "There was a bit of collective insanity in those days," recalls Stein. "The market lost its reason and almost lost its future...
...Drop. The disposal plan has stirred the same furor that forced the Army to cancel similar shipments twice in the past year. The specter of the gas escaping to pollute the ocean has been raised by both England and the Bahamas, and indeed, environmentalists are worried. There is no positive proof that the dumping will or will not cause permanent damage. Dr. Howard L. Sanders, senior scientist at the Woods Hole Oceanographic Institute, called the plan "sheer, unbelievable inefficiency and stupidity." Florida Governor Claude Kirk went one step further, promising to "pursue every avenue available...
...Although the board's aim was to eliminate abuses that have been much criticized on Wall Street, some accountants are upset over the outcome. Last week Chairman Leonard Spacek of Arthur Andersen & Co. condemned the new pooling rule as "highly discriminatory and completely unacceptable." One effect of the furor is to raise questions about the whole practice of accounting. If accountants themselves disagree over proper ways to keep books, critics complain, how in the world can investors tell whether reported profits are real or illusory? In the financial community, earnings statements face a season of considerable scrutiny...