Word: groves
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Dates: during 1970-1979
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TIME's board predicts only moderate relief. The peak of inflation has been reached, but the road down will be slow. David Grove, a private consultant and former chief economist for IBM, foresees a 1980 inflation rate of 9.5%, or double the level of only three years ago. Says he: "Inflation will continue as long ahead as we can see." Okun maintains that the latest surge of inflation has placed the economy on a higher price plateau, where it will stay for years to come. Even after the recession is over, he predicts, prices will be increasing...
Henri René Pacific Grove, Calif...
...clienteles. There is the local bar in the town of Trinidad in which the only barstool is a concrete stoop. And then there is the Tropicana nightclub, still perhaps the most lavish in the world, where dancers in glitter and feathers parade across an outdoor stage set amid a grove of palm trees...
NALF, Alice/Orange Grove, Texas...
...available large amounts of cash. These funds were then shuttled through a network of interlocking companies in the U.S. and the Caribbean. Through such maneuvering, Somoza acquired his mansion in Miami Beach, which is officially owned by a company based in the Virgin Islands, two posh condominiums in Coconut Grove for his estranged American-born wife Hope, and a luxurious apartment for his girlfriend Dinorah Sampson. Besides this choice real estate, Somoza's enterprises include six companies in Miami that imported a reported $30 million worth of beef last year, a 49% share of two Colombian coal-mining companies...