Word: one-fourth
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...charge on loans to the most creditworthy business borrowers. Bowing to furious jawboning by Federal Reserve Board Chairman Arthur Burns, such major banks as Chase Manhattan, Manufacturers Hanover Trust and First Pennsylvania Banking and Trust Co., which had hiked the prime rate two weeks ago, grudgingly pared it by one-fourth of a percentage point to 6½%. But several banks made it clear that they would go back up to 6¾% at the first chance. Burns won his shaky victory by reminding the bankers that Texas Democratic Representative Wright Patman, their perennial bête noire, is trying...
...many respects, the age of Arab wealth-and power-has already arrived. Arab oil money was a major element in the monetary crisis that led to the second devaluation of the dollar last month. Some European financial analysts claim that perhaps one-fourth of the $6 billion that flowed to West Germany in mid-February consisted of Arab-owned Eurodollars. Other experts say that the Arabs simply did what everybody else did: sold dollars to protect their holdings. Whatever the case, many international bankers are deeply concerned about the effect the Arabs' growing financial power may have...
Last May, one-fourth of the 9,500 employees of Farah Manufacturing Co., one of the nation's largest makers of men's pants, walked off the job in El Paso, Texas. The company refused to recognize the strikers' demand to be represented by a union (the Amalgamated Clothing Workers of America), much less bargain with them for higher wages. Strike leaders called a national boycott of Farah goods and, since 95% of the company's work force is Mexican-American, the company was soon squirming under the heat of a popular Chicano cause rivaling...
...continuing drought threatens to cut into this year's food production as well. To combat this danger, hundreds of thousands of urban office workers are being sent out to work in the countryside. In eastern Shansi province, which has had less than one-fourth of an inch of rain since October (compared with an average annual rainfall of 15 inches), Taiyuan Radio broadcast instructions that "manpower, material and finance be first concentrated on conservation projects that can give benefits this spring." Workers hope to sink 30,000 new wells and install nearly 50,000 pumps in other wells before...
...before they are formally hired. The Burger King and McDonald's hamburger chains also have used the polygraph on some employees, though McDonald's last month ended the practice at its California outlets under pressure from the state labor commissioner. Indeed, polygraphers figure that as many as one-fourth of all major U.S. companies now subject at least some of their workers to the lie-detector test...