Word: investments
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Dates: during 1970-1979
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...individual firms, the costs can be substantially greater. To meet new antipollution standards, some oil companies estimate that they must invest amounts equal to 10% of their pre-tax profits. Last week at General Motors' annual meeting, Chairman James Roche announced that the corporation will spend $214 million to combat pollution in 1971. Despite these outlays, environmentalists charge that major polluters often stall for time during lengthy negotiation periods provided for in many state and local laws, then begin work in earnest only when court action is threatened. In replying to this criticism, industry executives note that there...
...takes a great degree of theatrical skill to turn the box like dimensions of the Ex into anything other than one of Edgar Allan Poe's tomblike vaults-let alone invest it with the otherworldly aura of Prospero's mysterious island. Of itself, Robert McCleary's woodland setting, overgrown with mosses and shadows though it was, did not overcome this difficulty. But Boorstin's incantatory approach more than compensated. The first scene opened after a long, disoriented period of darkness during which three sprites, among them Ariel, introduced the audience to the magical qualities of their island world. The sprites...
...dollars have been pumped out by the U.S. balance of payments deficit-a term that sounds formidably technical but is quite simple in concept. The balance of payments is the grand total of money that Americans and their Government spend, lend and invest abroad, matched against total receipts from foreign sources. A deficit occurs when more money goes out of the U.S. than comes into it. This has happened in seven of the past ten years, and lately the gap between U.S. international spending and income has reached alarming proportions. Last year the U.S. spent a record $10.7 billion more...
Even after the next stage of liberalization, foreigners will not be able to send in many products?including unlimited quantities of oranges and some airplanes and machinery?or to invest in the manufacturing of large computers, certain electronic items and petrochemicals. The Japanese government rejects many investment applications, stalls on others, attaches unacceptable conditions to still others. Ford and Chrysler have been delayed for years in attempts to buy into the booming Japanese auto industry, and General Motors has won permission for only a limited investment: 35% ownership of a joint venture with Isuzu Motors, a truck maker. Says James...
...reason that productivity is soaring is that unions have not resisted new technology. If a man's skill becomes obsolete, his company retrains him for something else, with no loss in pay. Employers thus have great freedom to shift workers from one job to another and can invest huge sums to train them without worrying that they will jump to competing firms. As a result, workers tend to identify with the company rather than with a particular skill, a fact that is reflected in union organization. Says Morita, smiling: "Our labor situation is better than yours, because...