Word: midlands
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Dates: during 1970-1979
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...exchange for their own investment purposes. Companies are allowed to buy foreign currency only for import and export deals or for officially sanctioned overseas investment. The rising burden of bureaucratic paperwork could threaten London's role as a world financial center. Says an official of London's Midland Bank: "These days I push paper for the government...
...import surcharge longer than we should and touch off a trade war," says Robert Johnson, economist for Paine, Webber, Jackson & Curtis, a big brokerage house. "It could lead to a worldwide recession, and that worries me more than anything." Domestically, adds Richard Johnson, president of Dreyfus-Marine Midland Management Corp., the economy is going through "sort of a limbo period." Analysts are still waiting for the first conclusive signs of the "great year" that Nixon has promised for 1972, and for some concrete idea of the toughness or laxity of the controls that will follow the end of the freeze...
Partly as a result of the postponed approval of a large nuclear power plant in Midland (pop. 35,000), the Dow Chemical Co.-the city's biggest employer-announced that it intends to move one of its small chemical plants to the Gulf Coast, where electrical power is still relatively abundant and cheap. Many Midlanders jumped to the obvious conclusion that if the nukes were not quickly completed and placed in operation, Dow might shut down more of its Midland-based operations. Fearing for their jobs, they bought a full page ad in a local newspaper attacking environmentalist critics...
Fish Stew. One of Midland's leading anti-reactor crusaders, Mrs. William Sinclair, nonetheless remains concerned that accidents in the plant might cause the release of dangerous radioactivity. "This is the first nuclear power plant of this size placed close to a large industrial and population center," she says. "We don't want to delay the plant, just study public-interest issues. Yet I'm now everybody's favorite villain." Last week, although it is the AEC's technical and procedural difficulties-not environmental opposition-that is causing the trouble, protesters littered Mrs. Sinclair...
...controversies in Midland and New York City point up an escalating battle that could have a marked effect on the quality of life in the U.S. Unless the growing demand for power can be met, the high standard of living made possible by a highly industrialized society may well be jeopardized. Yet if nuclear plants are allowed to proliferate without proper safeguards, their cumulative effect could produce an ecological disaster...