Word: grouping
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Dates: during 1970-1979
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...draconian measures have first hit the housing industry. Last week the National Association of Home Builders called an emergency meeting in Washington to bewail the high mortgage rates. The group's economist, Michael Sumichrast, darkly predicted that housing starts, which ran at a 1.9 million annual rate in September, will soon be cut in half. The soaring cost of money, he claimed, has already forced 10 million Americans to abandon temporarily plans for that dream house...
Despite the distress, Volcker's interest rate policy continues to win support from bankers, businessmen and politicians. The U.S. League of Savings Associations unanimously approved the Fed's actions, and the group's chief economist, Ken Thygerson, admits that it "was necessary to deal a lethal blow to speculation in the housing market." Ben Heineman, president of Northwest Industries, calls the program a "sensible way of checking inflation." Even Senate Banking Chairman William Proxmire, normally the central bank's most vociferous critic, endorses the program, saying it has had an important "psychological effect." The battle against...
...General Motors (Wright Enterprises; $12.95) was written by J. Patrick Wright, former Detroit bureau chief of Business Week. But by all accounts it is drawn from the words of John Z. (for Zachary) DeLorean, a 17-year GM veteran who abruptly quit a $650,000-a-year job as group executive for cars and trucks in 1973. DeLorean, now 54, had a good shot at the GM presidency. But apparently his fast life, long hair and penchant for marrying young women (thrice) and divorcing them (twice) did not fit the GM mold...
...adds in Wright's book, "these same men in a business atmosphere, where everything is reduced to costs, profit goals and production deadlines, were able as a group to approve a product that most of them would not have considered approving as individuals...
Though Remarque came to the plot early, his scenario is now familiar from too many other war movies: a group of boys go from school to training camp to the front lines, becoming men only to die. "You are our iron youth," their high school instructor (Donald Pleasence) tells them, with proper Germanic pride. "Iron youth be comes iron heroes." They are sent to the Western Front, where they find that iron, like everything else, quickly disintegrates in the trenches. A veteran, Katczinsky (Ernest Borgnine), teaches them the two essentials of staying alive - stealing food and killing Frenchies. Never...