Word: indexable
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...second road to glory-and mediocrity-is to join the rank of management. This is typically accomplished by building a small empire. For lack of a better index, one's importance, and thus one's grade, is ultimately determined by the number of employees supervised, the number of publications issued, the number of projects undertaken. This of course leads to the creation of unnecessary work...
...agreed that an economic downturn is both inevitable and necessary to curb inflation, which is surging to scary levels. The January Consumer Price Index, released last week, rose at an annual rate of 11.4%. Leading the price parade was food, up at an 18.2% rate. Contends David Grove, a former IBM vice president who heads his own economic consulting firm: " To get inflation under control, everyone has to sacrifice. There has to be a willingness by the public to forgo tax relief, tolerate tighter money, and not put tremendous pressure on the Government to step up spending for pet programs...
...fewer rental apartments are being built than in the mid-1970s. Rising costs of construction and of operating existing rental units have squeezed landlords. In Chicago, for instance, utility and fuel bills have been rising faster than the Consumer Price Index, while rents have lagged behind it. Says John Pfister, vice president of Chicago Title & Trust, a mortgage broker: "Most renters are getting a bargain. It is the landlords who are behind the eightball." The owner of an apartment building who converts it to a condominium or cooperative can reap a profit of 20%-and often much more...
...lean and limber 19-year-old broke the world indoor records for the high hurdles five times, at distances between 50 yds. and 60 meters. His assault on the record book paused at the Millrose Games in Madison Square Garden when he could not resist proudly lifting his index finger at the tape. That gesture of triumph may have cost him another world record-he finished the 60 yds. in 6.89 sec., just .01 off his best time-but Renaldo Nehemiah has no regrets: "Up to this point, there were still a few doubts about my dominance...
...words of James Sinclair, a leading New York gold broker, the price of the metal "has become a kind of Dow Jones index of investor anxieties." A worldwide subculture of goldbugs is thriving on the doubts. Gold has its bankers and boosters, its brokers and dealers, its lecturers and analysts. Each of them can quote Robert Browning: "Leave the fire ashes, what survives is gold...