Word: modeste
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Dates: during 1970-1979
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...draft. The main part of the draft is a treaty running to 1985, limiting both the U.S. and U.S.S.R. to 2,250 strategic weapons systems: a mix of long-range bombers, land-based inter-continental ballistic missiles and the submarine-launched ballistic missiles. This would be a much more modest achievement than the sharp reductions that the Carter Administration had sought in March 1977. In fact, because the U.S. now deploys about 2,150 strategic systems, the Pentagon actually would be able to add weapons under SALT II. While the Kremlin would have to trim its strategic arsenal by about...
While the Carter Administration had optimistically expected a modest increase of between 5% and 10%, the 13 OPEC nations agreed on a 14.5% hike to be imposed in stages at three-month intervals in 1979. The timing could hardly have been worse. Carter must cope with an intolerably high rate of inflation, expected to be 9.5% for 1978, and the prospects of a recession next year; the OPEC decision significantly augments both problems and makes them that much harder to deal with. Reflecting the difficulties ahead, the dollar fell an average of 2.25% against major European currencies last week until...
Clothing. Between the end of May and the end of June, contracts between 150,000 members of the International Ladies' Garment Workers' Union and apparel manufacturers will expire. New demands will be modest and wage increases will be tied to productivity gains. The union is well aware that its industry is threatened by low-cost imports, particularly from the Third World...
Still, the split represents a considerable shift in philosophy for a management that used to pride itself on having one of the highest-priced stocks around. Though IBM has declared six other splits in the past 20 years, they have been too modest (on the order of 5 for 4 or 3 for 2) to bring the price out of the stratosphere. But next year small investors are expected to seize the opportunity to buy in at Depression-era prices. As an extra inducement, IBM last week boosted dividends by $2.24 to an annual rate of $13.76 on the present...
...impact of two lively kids. A Kiss album has been left abandoned on a sofa that Elton John wouldn't allow in the servants' quarters. A silver-blue Mercedes-Benz is parked in the concrete driveway, but automotive ostentation is endemic to Los Angeles, even to such a comparatively modest suburb as Woodland Hills...