Word: marketeers
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Dates: during 1970-1979
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...stock market indicated the public's response. Shares of Columbia Pictures, which gained a publicity bonanza for its movie, soared by $2.74 in two days, to $24.75. Stocks of nuclear power companies declined sharply. General Public Utilities, which owns the damaged plant, dropped 50¢ a share, while the stock of Kerr-McGee plunged...
...achievement of historic significance." But beneath the surface, Europeans worried about the treaty's consequences. The British feared that the treaty's vagueness over autonomy for the Palestinians could lead to an explosion within the Arab countries and seriously undermine moderate political forces there. The Common Market nations, which get 68% of their oil from the Middle East, gently tried to dissociate themselves from the treaty, fearing that open enthusiasm could make enemies among the Arab oil producers. Reported TIME Rome Bureau Chief Wilton Wynn: "There is a distinct lack of dancing in the streets here. Europeans...
...good news. The bad news was that they agreed to allow members to add whatever surcharges "they deem justifiable." Saudi Oil Minister Sheik Ahmed Zaki Yamani, who had argued in vain against the surcharge, predicted that the move could cause a "free-for-all" in the world oil market...
...worrisome signs that the OPEC countries, including Saudi Arabia, Iraq and other producers, were determined to make their new price offensive stick by limiting production now that Iranian output is once again climbing. Bragged Iraq's fiery Oil Minister, Tayeh Abdul-Karim: "No one country can affect this market now. As Iran's production goes up again, ours will go down...
...housing market has begun to weaken slightly, and auto sales are not moving quite so briskly as they did last autumn. Consumer spending has also begun to slow somewhat, yet inflation, which in February hit an average annual pace of more than 15%, continues unchecked. By Administration estimates, last week's rise in imported oil costs should add another one-quarter to one-half point to the rate...