Word: norths
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Dates: during 1980-1989
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...activities in the Iran-contra scandal, Richard Secord copped a plea. The retired Air Force Major General admitted that he had lied to congressional investigators when he denied knowing that $13,800 from the Iran arms-sales deal went to pay for a security system at Oliver North's home...
...wanted to prevent further criticism of Colonel North and myself," he explained to a judge. "There had already been a fire storm in the press. I was trying to shield both of us." Though Secord won dismissal of eleven other counts lodged by independent counsel Lawrence Walsh in exchange for the plea bargain, he could be sentenced to a $250,000 fine and five years in prison...
...moment on the mountaintop. There was no chance of a racially divisive primary, since Virginia Democrats, unlike those in other Southern states, nominate by convention. In a sense, Wilder was the beneficiary of old- fashioned back-room politics, just as Irish, Italian and Jewish candidates were in the urban North decades ago. With the aid of the Robb and Baliles organization, plus his own ties to Richmond business interests, Wilder was able to raise $7.2 million, avoiding the traditional fate of ill-funded black candidates...
...this month that it will close the aging Detroit plant where workers assemble the last of the Dodge Omni and Plymouth Horizon models, the situation had ominous parallels to the calamitous early 1980s. Only six years after its fabled turnaround, here was Chrysler embattled again, posting losses on its North American operations for the first time since 1982. Amid persistent auto-industry speculation that Chrysler might be forced to merge with a foreign partner, here was Chairman Lee Iacocca declaring that for the company to survive, it must cut at least $1 billion, or $500 a car, from its overhead...
...other automakers -- American, Japanese and European -- were coming to the same conclusion: the next 15 months will bring a bloody battle for sales in a slumping U.S. auto market. With 30 car companies and an unprecedented 600 models on the scene, and with ten Japanese "transplant" factories in North America expected to help create an excess carmaking capacity of 2.7 million autos by 1991, the marketplace is certain to be littered with casualties. A leading indicator of the struggle was the dismal performance of Detroit's Big Three during the July-September quarter, in which they all lost money...