Word: lm
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...Donie Wood (Arkansas) d. Mike Shyjan (HARVARD), 6-3, 6-2; 2. Mike Zimmerman (HARVARD) d. Cha Hoon lm (Arkansas), 6-3, 6-2; 3. Mark Leschly (HARVARD) d. J.P. Mieny (Arkansas), 6-4, 6-3; 4. Derek Brown (HARVARD) d. Garron Borkum (Arkansas), 4-6, 6-3, 6-3; 5. Albert Chang (HARVARD) d. Keith Burford (Arkansas), 6-2, 7-5; 6. John Tolmie (HARVARD) d. Robert Antoun (Arkansas...
Still, Case officials sympathize with Reagan's budget-cutting goals. Jerome Green, Case's president, expects that lower corporate taxes and faster depreciation allowances will offset any loss of Ex-lm financing help. He notes that if the budget cuts "are evenhanded, we could benefit." Most important of all, he says, is to cut inflation. "If we can get inflation down, we could better compete in the marketplace," Green explains, adding, 'If we don't, it won't matter what kind of financing terms we offer...
...French telephone system was a top priority. The government plans to spend $23 billion on it over the next four years. Since France lacks the technological know-how for the job, Paris has turned to two foreign firms, the U.S.'s International Telephone & Telegraph and Sweden's LM Ericsson. Through a series of complex deals, Thomson-CSF, a big French electronics company (1975 sales: $2.7 billion), will acquire the French subsidiaries of ITT and Ericsson, thus gaining access to their technology and expertise. ITT and Ericsson, in turn, will receive big payments for their subsidiaries as well...
...just recognized, the bank was soon authorized by Congress to grant credits to other countries so that they could buy more U.S. goods and services. By using its $20 billion lending authority to extend credit to countries and companies on which commercial banks would not take a risk, Ex-lm has helped expand U.S. exports. It facilitated a record $10.5 billion sales last year and continued as a rare moneymaker among federal agencies. In fiscal 1973 it collected $140 million in interest and paid its 23rd consecutive dividend, of $50 million, to the Treasury. Yet now this unobtrusive institution...
Congress must decide by the end of this week whether to renew Ex-Im's lending authority, which expires June 30. There is no doubt that Congress will keep Ex-lm alive, but probably with new limitations on its autonomy. Last week the Senate Banking Committee approved an amendment drafted by Democrats Henry ("Scoop") Jackson of Washington and Adlai Stevenson III of Illinois that would require Ex-lm to give Congress 30 days' advance notice of any proposed credit of $50 million or more; Congress could then veto the loan. Tougher restrictions could be added on the Senate...