Word: lester
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...clearest example of the industry's chaos is the growing string of financial failures. Warns Economics Professor Lester Thurow of the Massachusetts Institute of Technology: "A threat to the soundness of our private banking system is an economic nightmare." So far this year, 71 banks have collapsed, compared with 48 in all of 1983 and only ten in 1981. The latest failure was the First American Banking Co. (assets: $22.7 million) of Pendleton, Ore., whose office reopened last week as a branch of a competitor from a neighboring town. Government regulators have put more than...
...devastating to U.S. firms selling in foreign markets, since it pushes up the price of everything from General Electric jet engines to Caterpillar tractors. Since Reagan took office, the dollar has increased in value by 60% against the major world currencies. If the dollar remains high, says M.I.T. Economist Lester Thurow, "American industry will be run out of business, and the President will face enormous pressures for protection...
...last to first in the final two furlongs. "As near to being a masterpiece as is possible in race riding," said Racing Writer Brough Scott. A computer chart showed that a horse had a better chance of winning with Cauthen aboard than with any other jockey, including the legendary Lester Piggott. Piggott, 49, is Britain's Willie Shoemaker, a gritty, no-nonsense veteran who has won eleven jockey championships. His terse appraisal after his first matchup against Cauthen: "I wouldn't let him mow my lawn." The stony-faced Piggott later relented slightly: "He's good...
...What makes Nicaragua unique in the region is that in there human beings are treated as a valuable resource. The priorities of the Nicaraguan government are related to issues of health and education," says Lester...
This contrasts with El Salvador, Lester says, where all health supplies go to the military, while civilians receive poor care...