Word: modeling
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Dates: during 1970-1979
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...country $90 million that was soon defaulted. Wall Street banks today have $48.7 billion in loans outstanding to Peru and other oil-poor developing countries. Consumers in the '20s had just discovered the installment plan and were plunging into debt to buy radios, refrigerators and that new Model A from Henry Ford. Their grandchildren now have "plastic money" in the form of credit cards and owe $292.5 billion. The '20s real estate boom was centered in Florida, had created millionaires and seemed to prove, then as now, that one rarely loses money buying land. Even President Carter...
...official adds, "Cuba represents an alternative path to development, very different from the old traditional British model that hasn't worked too well." Years after independence, former British colonies remain, almost without exception, poorly endowed with natural resources and handicapped by single-commodity, export-oriented economies that present few opportunities for rapid growth or full employment. Unemployment in the 22 Caribbean nations averages 40%. Millions of their citizens, including thousands of Haitian boat people, have made their way to jobs in America...
...independence on the other, many have adopted an anti-Western stance. Even though Cuba survives only by massive infusions of Soviet aid (an estimated $2.5 billion a year), Castro's nose-thumbing attitude toward the U.S. and his admitted achievements-notably the elimination of illiteracy-provide an alluring model for Cuba's neighbors. Says Abraham Lowenthal, a U.S. authority on Latin America: "These countries are satellites in search of an orbit. They may become part of the Cuban orbit, but not for military reasons. If the Cubans succeed, it will be because Cuba is able to convey...
...than anything else to turn our industry upside down." But a major problem was what Henry Ford concedes to be "poor planning," and he accepts much of the blame. Four years ago, he said no to arguments that Ford should build a front-wheel-drive subcompact for the 1979 model year; front-wheel drive means shorter hoods, lighter weight and, consequently, less use of fuel. Concerned by the size of the investment gamble, Henry Ford demurred. That was a mistake. When the gas lines reappeared, and Americans shifted to small cars, Ford was still offering its decade-old Pinto...
Ford will introduce a front-wheel-drive subcompact code-named Erika by next fall. In the meantime it has just completed a costly effort to downsize its big gas-gulping Lincoln Mark VIs, Cougar XR-7s and Thunderbirds for the 1980 model year and to boost its fleet average fuel economy 13% to an industry high of 21.6 m.p.g. But for a while, Ford's only real strong points will be its overseas operations and its brisk truck business...