Word: inks
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Dates: during 1980-1989
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...long been one of the U.N.'s pickier dues payers. Moscow has consistently refused to ante up for special operations that it opposed politically, starting with a peacekeeping force at the Suez Canal in 1956. But last week the Soviets announced that they will mop up their red ink, paying a total of $197 million in outstanding debts owed for peacekeeping operations in the Middle East dating back to 1975. Moscow's check will erase its current IOUs, but not its historical ones. In 1973 the U.N. ceased billing the Soviets for some $67 million worth of debts...
...Steinbrenner's timing represents more than a delightful omen for Yankee haters the world over. "The Fat Man" has inadvertently undercut his own ink-quest...
...discount to hotels and airlines), making it the country's second largest daily (No. 1: the Wall Street Journal, with 2 million).After suffering more than $450 million in operating losses, the Gannett Co. announced that USA Today turned a $1 million profit last May. The red ink reappeared during the summer, but the wealthy media conglomerate is still declaring victory. "USA Today is established to the point where even we cannot screw it up," says Allen Neuharth, Gannett chairman...
...most troublesome borrower is the Federal Government. During the past seven years, the U.S. has posted deficits totaling $1.1 trillion; in fiscal 1986 the red ink reached a record $221 billion. Though the deficit is expected to fall significantly this year, to some $160 billion, many economists fear it will begin rising again in 1988. The Treasury's ability to borrow so heavily depends on foreign buyers of U.S. bonds, whom the Government lures by keeping domestic interest rates at relatively high levels. If those investors were to lose confidence in the U.S. and start pulling out their money, interest...
...longer the huge deficits go on, the greater the economic hangover that is likely to result when the fiscal pick-me-up is finally cut off. Last week the House and Senate passed a measure that would revive the Gramm-Rudman deficit-reduction law and stanch the federal red ink to a target of $144 billion during the 1988 fiscal year. Though President Reagan will sign the bill this week, he warned that he would fight tax hikes or deep cuts in defense spending...