Word: offsets
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...avoid conflicts of interest and satisfy the Senate Banking Committee, which is expected to approve his appointment, Greenspan will place all stock he owns in his firm in a blind trust over which he will have no control. Thus he faces a big financial sacrifice that will not be offset by his $42,500 salary at CEA. Profits earned by his firm while he is away will be lost to him forever-distributed to employees and charities...
Downstairs at the Fogg, on the first floor, the Print Room is displaying photographs by Boston artist Peter Jones and contemporary lithographs, silk-screens and offset prints--including Claes Oldenburg's satirical "Art and Technology...
This year, Levy calculates, consuming nations will pay $100 billion to import oil, v. $20 billion in 1972. For poor countries, the oil bill will more than offset all the foreign aid they get. Even industrialized nations, says Levy, must either cut oil imports enough to cause recession or run gargantuan trade deficits financed by borrowings that eventually will pile up an insupportable debt. Though Levy does not use the words global depression, he contends that the world economy "cannot survive in a healthy or remotely healthy condition if cartel pricing and actual or threatened supply restraints of oil continue...
Parkhurst refuses to discuss specifically plans for the near future. "We learned one lesson," he says. "Don't advertise what you're going to do in advance." Industry and produce warehouses were given ample time to stockpile supplies and thus offset the effects of any shortages, he says...
Their views are anathema within OPEC. At the Quito meeting, Venezuela, Algeria, Libya, Nigeria and Kuwait pushed hard for a 63? increase in posted prices to offset the effects of inflation on the prices of the goods that they buy from the U.S., Europe and Japan. Iranian Finance Minister Jamshid Amuzegar, who has accused the Saudis of hypocritically calling for price reductions while actually raising prices, favored a slightly smaller hike, "to show the industrialized nations that we are serious when we say that they must keep inflation in check." Saudi Oil Minister Ahmed Zaki Yamani reportedly threatened to force...