Word: marketeers
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Dates: during 1970-1979
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...worked on the railways as an apprentice stoker-a job that has always been reserved for whites. The government hopes the proposals will be seen as evidence that South Africa is pushing its labor practices more into line with those being urged on foreign companies there by the Common Market and by the U.S.'s Rev. Leon Sullivan, the General Motors director who has drawn up a list of fair labor practices that many American firms in South Africa have agreed to follow. To judge by the angry reaction of several of South Africa's white labor leaders...
Motzfeldt, a seal hunter's son from Qassimiut, a southern settlement, sets the first priority as fishing rights. Greenlanders now have exclusive rights up to twelve miles offshore, but Motzfeldt wants this extended to 100 miles. He threatens to pull out of the Common Market, to which Greenland reluctantly belongs through its link with Denmark, "if we do not get satisfaction" on fishing...
...world's oil, has been cut by between 7% and 10% since December, when shipments from Iran first stopped. Now that Iran is back to exporting, at two-thirds normal capacity, Saudi Arabia, Libya, Kuwait and other oil states are reducing their own deliveries to keep the market tight...
Despite repeated promises by the Japanese to dismantle their myriad nontariff barriers and allow more foreign goods into their potentially rich market, Japan's trade surplus continues to pile up. Last year it rose to $24.6 billion, from $17.3 billion in 1977. Imports of Toyotas, Sony TVs, Nikon cameras and other Japanese goods to the U.S. outpaced American exports to Japan by $13 billion, accounting for fully a third of the American trade deficit...
...neighborhood grocers until 1952, then advanced to supermarkets. The seven-to eight-month "float" between the time that he sold the stamps to the grocer and the time the customers cashed them in gave Carlson the money needed to buy the premium gifts and print stamps. Long before the market in trading stamps slumped in the late 1960s, Carlson began to diversify. His first major move came in 1961, when he bought the venerable Radisson Hotel in Minneapolis, using the convenient float. In subsequent acquisitions, he had generous lines of credit from many banks...