Word: mutual
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Dates: during 1980-1989
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...might lose so much momentum as to expire altogether. So the Egyptian President has undertaken a one-man campaign to keep the process alive. Two weeks ago, he addressed the European Parliament in Luxembourg, where he solicited Europe's help in persuading both Israelis and Palestinians to accept "mutual and simultaneous recognition." Afterward, he stopped over in Paris for talks with French President Valéry Giscard d'Estaing. Last week Sadat stoked the fires again: he renewed a long-forgotten, highly controversial proposal that Palestinians create a government in exile...
...actor played an embattled S and L officer who eventually triumphs over evildoers when depositors unite to save his business. The nation's 4,600 S and Ls could use a little of the Capra grass-roots rescue treatment right now. Along with their sister "thrifts," the 460 mutual savings S and L banks are caught in a profit squeeze that some analysts fear could lead to their collapse and ultimately to U.S. financial chaos. Says Jonathan Gray of New York's Sanford C. Bernstein & Co.: "Like the San Andreas Fault in California, all the elements...
...main causes of the problems for the thrift institutions are double-digit inflation and interest rates, which were both unheard of in 1831 when the first S and L in the U.S., the Oxford Provident Building Association, was founded in Philadelphia. The nation's S and Ls and mutual savings banks today hold $650 billion in long-term mortgages, nearly three-fourths of the U.S. total. But about one-third of those were written within the past decade at interest rates of 8¾% or less. Moreover, during the past two years the costs to the thrifts of acquiring...
...trouble facing the S and Ls is that savers are no longer content with the meager 5½% yields on passbook savings accounts, which have long been the main source of money for lending by the thrifts. Instead, they are putting their resources into money market mutual funds, where 16% interest was common last week, or into the thrifts' own money market certificates, which yielded 15% interest. During the past year, an estimated $28 billion has flowed out of savings accounts into other forms of savings...
...called Theory X bosses, who believe that workers are basically lazy and untrustworthy, and Theory Y managers, who hold the opposite view. Ouchi takes the alphabet one step further with the "Theory Z" corporation. This is a company that emphasizes long-range planning, consensus decision making and strong, mutual worker-employer loyalty. Ouchi argues that such corporations can be models for many American firms struggling with problems of high employee turnover, declining productivity and generalized worker alienation...