Word: herbert
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Evidence is building that the world economy is going through more than a temporary, cyclical downturn. Says Herbert Giersch, director of West Germany's Institute for World Economics in Kiel: "The stagnation of the European economy will not be solved before the end of the decade." Chase Econometrics, a U.S. consulting firm, has projected that between now and 1991, annual growth in most industrial countries will average only 2% to 3%. Worse, Chase predicts that unemployment in the U.S. and Europe will hover around 8% to 9% over the next decade...
WEST GERMANY. The economy of Western Europe's most important industrial power will decline 1% this year, according to Herbert Giersch, director of the University of Kiel's Institute for World Economics. He believes that the upswing will finally come in 1983, when growth will reach 1.5%. Unemployment is expected to rise to 7.5% of the work force this year. Inflation, which was 6.3% last year, will drop...
...emotions of this year's graduates may match the situation they face. According to Herbert Smith of the Rockefeller Foundation, "They are part of the largest birth cohort in U.S. history, and when they enter the job market they'll have the greatest competition. Employers will be able to be more choosy, yet these young people remain particular about what they want out of life and from a job." Between 1947 and 1969, professional job openings for men increased 4% every year. From 1970 on, the annual rate slowed to .3%. The job situation, according to most estimates...
...Herbert Kalmbach, 60, Republican Party fund raiser and Nixon's personal attorney. Collected hush money for Watergate burglars. Pleaded guilty to breaking campaign-contribution laws, served six months. Regained right to practice law in 1977. Now partner in Hillsdale Associates, Santa Ana, Calif., real estate firm...
...year is under discussion: to Poland. John Paul ardently wants to attend the 600th anniversary of the Black Madonna of Czestochowa, even if martial law is still in force when he arrives, just as he wanted to go to Britain despite the supposedly insurmountable diplomatic problems. Last week Archbishop Herbert Bednorz of Katowice stirred speculation by telling 200,000 pilgrims at a shrine in Poland that the Pope wants the internment centers closed, but if they are not closed when he visits, he will simply include them in his itinerary. The Polish government is known to be cool...