Word: interests
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Dates: during 1980-1989
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...move boldly and effectively in foreign affairs. In China he found an area where he thought he could rely on his expertise to act. Explains White House spokesman Marlin Fitzwater: "The President knew he would be criticized for this, but he feels strongly that it's in our national interest to improve relations with China. He feels he knows China as well as anybody -- and better than his critics in Congress." The next few weeks will tell whether that faith is well founded...
There's nothing like teaming up with a $100 billion company to improve one's prospects. Or so Swedish automaker Saab-Scania AB hopes. Saab last week agreed to sell General Motors a 50% interest in its car-making operations, which had 1988 sales of $2.6 billion, for some $600 million, plus a promise that GM will invest another $100 million. Saab, which also makes trucks and aircraft, will spin the auto holdings into a subsidiary to carry out the deal...
Still, it is the classic clash of man against nature that has inspired the most interest. The journey began smoothly on July 27, when the six explorers, 36 dogs and three sleds, each loaded with nearly 450 kg (1,000 lbs.) of food and gear, left the base of the Seal Nunataks mountains and started gliding across the Antarctic Peninsula. But Antarctica's ferocity proved to be stunning. Although it is now summer there, windblown snow has produced near- zero visibility, and frozen drifts have periodically caused the heavily < laden sleds to tip over...
...reforms do go far enough to work, it is still not in our interest to help Gorbachev unless his foreign policy becomes less aggressive. Even as he issues calls for "new thinking," Soviet power is being applied against American interests in Afghanistan and El Salvador and for propping up anti- American regimes in Cuba, Nicaragua, North Korea and Libya. When Gorbachev asks the U.S. to help pay for perestroika, we should insist he pay for it himself by cutting his budgets for defense and foreign adventures...
That crisis could soon become worse, because new requirements designed to strengthen the thrifts could instead push many of them into extinction. Starting last week, S&Ls must greatly increase their capitalization as a hedge against losses from problem loans, interest-rate swings and bad investment decisions. Among other things, they will be required to maintain "risk-based capital" equal to 6.4% of their risky assets, such as shopping centers and fancy resorts. Because many thrifts are only marginally profitable, raising the funds to meet the standards may prove impossible for them. Some analysts warn that half the nation...