Word: nationalizes
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Dates: during 1970-1979
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...Blatnick is presently ranked number two in the nation and is the best riding heavyweight I've ever seen," Beling said yesterday...
...bumpy stretch of gasoline shortages and substantially higher prices may well be lurking just around the bend for American motorists. That was the message coming from Washington and the nation's oil industry last week. The threat of scarcities is being raised by the political upheaval in Iran, which has virtually shut down that country's vast oilfields and is reducing supplies worldwide. Last week Energy Secretary James Schlesinger warned that unless Iran's wells are pumping again by April 1-which is unlikely, given the complexity of the job of resuming production even if the political...
...national unemployment rate is one of only two economic statistics-along with the consumer price index-that regularly stir hot political debate. Last week the Government reported that in January joblessness dropped slightly, to 5.8% of the labor force, continuing a period of little change. As the economy slows later this year, however, the rate is sure to rise, and so will questioning about whether the nation is paying too high a price to curb inflation...
Southwest Bank in St. Louis is no financial leviathan, but its starchy chairman, Isaac Long, 79, likes to throw his weight around when it comes to interest rates. In 1974 Long's bank (assets: $150 million) became the first in the nation to cut rates after nearly a year of steady increases. Last week he was out in front again. He chopped Southwest's prime lending rate to its most credit-worthy borrowers a quarter-point, to 11.5%, touching off speculation that a climb of almost two years in the prime might soon...
Even with interest rates at near record levels, the nation's inflation-heated economy keeps puffing along anyway, and bankers fear that lowering rates right now would make inflation worse. At week's end only Chase Manhattan and some small banks had followed Southwest's lead. Federal Reserve Chairman G. William Miller, whose tight money policy is a key reason that rates have been rising, told a congressional committee that he would not be surprised to see rates remain high for some time...