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...ABSCAM it turns out, is not short for "Arab scam," as widely reported. At the request of the American-Arab Relations Committee, Judge George C. Pratt, presiding at the trial, announced that the acronym actually stands for "Abdul scam," after Abdul Enterprises Ltd., the bogus import-export firm that the agents used as their front...
...miscalculation by Gierek's government. He had inherited a chaotic agricultural system and an inefficient industrial base that produced chronic shortages of foodstuffs and consumer goods. His solution was a rapid modernization of industry that was intended to produce hard-currency-earning exports and enable the government to import more food and goods from the West...
...game plan did not work. Poland borrowed heavily abroad to import needed Western technology. The debts were supposed" to be paid by re-exporting finished goods, but production was hampered by mismanagement, and foreign markets were reduced by the Western recession of the mid-1970s. Spiraling bills for imported oil, 80% of which comes from the Soviet Union, presented yet another problem. Moscow's preferential price, though well below OPEC rates, has risen sharply since 1974. Poland must therefore divert more exports to the Soviet Union instead of selling them for hard Western currency. The result: a staggering foreign debt...
...driver will ask you where you're going to school and overcharge you and the janitor in the basement of Matthews will look down a list of names and hand you a key. Your roommate may beat you to the single and your proctor may have very little of import to say but you'll have your very own piece of Harvard real estate and your own little corner of the Yard...
...American auto companies (Chrysler, GM, Ford), which build good small cars in Europe (Simca, Opel, Taunus, respectively), claim that they need 1) subsidies from taxpayers and 2) import restrictions in order to figure out how to build small cars in America...