Word: generality
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Dates: during 1980-1989
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...With politics in his blood, the somber young man worked his way up from the grass roots into the upper hierarchy of the L.D.P., winning a seat in the Diet in 1958 and serving as Finance Minister under two Prime Ministers. Last year he became the party's secretary general. "Takeshita knew everyone's name," says a government official. "Unlike other politicians, he took great personal interest in you, no matter what your rank." His care and diligence paid off. Among the many feuding factions that make up the L.D.P., Takeshita leads the largest -- 114 members of 445 party members...
...flies. But in many areas the insects developed a resistance to the sprays. Enter ivermectin. The drug works by attacking the primary cause of the disease, the worms. Although it does not kill the invading parasites, biannual doses of ivermectin can prevent them from reproducing. Predicts Halfdan Mahler, director-general of WHO: "Ivermectin will revolutionize the way countries face this debilitating disease...
That is what the market seemed to have been saying for some time. The average top price for the Times industrials had risen from 186 in 1926 to 469. Just in the previous 18 months, General Motors had climbed from 73 to 140, General Electric from 129 to 396. Best of all, in the view of the investors who spent much of their spare time eyeing the tickers in the brokerage houses that were springing up around the country, stocks could be bought on margin, or credit, for as little as 10% in cash. About one-third of the nation...
...stock at bargain prices, in part to keep it out of the hands of would-be raiders. The crash put at least a temporary damper on mergers and acquisitions anyway. Several deals fell through because the bids made for the target companies suddenly looked unrealistically high after the general decline in stock prices...
Tony Cafazza, 46, owner of a St. Louis company that sells and services cash registers, rang up profits even as the crash began. Cafazza had sold his stock holdings during the previous three months, for a profit of $100,000. Then, in September, he bought so-called puts on General Motors -- options to sell the company's stock at a fixed price in the future. On the Friday before Black Monday, as GM stock nose-dived 4 7/8 points to close at 66, Cafazza cashed in his options, which soared in value because their set purchase price was higher than...