Word: jolt
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Dates: during 1970-1979
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...still cannot sell New York City bonds, and the state's Municipal Assistance Corporation securities marketed on the city's behalf recently suffered a ratings drop by Moody's Investors Service. Last week the city's unrelenting financial crisis gave New Yorkers yet another painful jolt. With the entire City University of New York system temporarily closed for want of funds, the Board of Higher Education reluctantly voted to impose undergraduate tuition fees for the first time in CUNY's 129-year history...
...critics now think that interest rates are too low. Otto Eckstein, a member of TIME's Board of Economists, fears that if rates do not rise gently this year, they will go up so abruptly in 1977, when loan demand should finally revive, as to jolt the economy. Burns does now seem to be trying to nudge interest rates up a bit; among other things, he intends to dole out money more slowly. His new target is money-supply growth of 4½% to 7% a year, down from the 5% to 7½% he had been aiming...
...Liberal Party elders. Scott was questioned about his accusations and collapsed under crossexamination. The Liberal leaders then accepted Thorpe's denial. When Scott trumpeted his story this year, former Liberal Chief Whip Cyril Smith immediately pronounced it "ludicrous." But next day Thorpe's credibility suffered a major jolt when his longtime friend Peter Bessell, a former Liberal M.P. who moved to the U.S. in 1974 following a financial scrape in Britain, admitted that he had paid Scott a "retainer" of $15 to $30 every week or so from 1968 to 1970. Bessell insisted that he, not Thorpe...
Last week the Club reversed its position. At a three-day meeting in Philadelphia sponsored mainly by the First Pennsylvania Corp., a leading bank, speaker after speaker came out for more growth. Why? The Club's founder, Italian Industrialist Aurelio Peccei, says that Limits was intended to jolt people from the comfortable idea that present growth trends could continue indefinitely. That done, he says, the Club could then seek ways to close the widening gap between rich and poor nations-inequities that, if they continue, could all too easily lead to famine, pollution and war. The Club...
...Cantor, who brings considerable corporate experience to Harvard, may help jolt the personnel office into increased action in such areas as affirmative action and employee benefit implementation, Powers said...