Word: paring
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Economic maladies abroad could reduce the profits that the U.S.-owned multinational corporations draw from their overseas operations. A deepening foreign slide could also pare demand for American exports, offsetting part of the help that the U.S. will get from dollar devaluation. There is no certainty, however, that the foreign sluggishness will continue. Some experts think that Europe's economies will revive as a result of the monetary realignment, which ended the currency uncertainty that hampered international trade...
Most of the VAT receipts, which it is estimated would reach between $10 billion and $12 billion a year, would go to municipalities to pare education costs. This would ease the burden on homeowners, who pay for schools out of their increasingly heavy property taxes. Because the money would be distributed on a per-pupil basis instead of by school district, the plan would enable Nixon to redeem his pledge to aid parochial schools...
...Paring the Work Week. Instead, the Japanese are shifting their prodigious energies toward meeting their great needs for schools, hospitals, sewer systems and the like. The government plans to increase its budget next year by an estimated 20%, with most of the extras going for public works. Meanwhile, government economists are in the process of scaling down the growth goal for the gross national product to about 7% annually, from between 10% and 18% in past years. In addition, the Labor Ministry seeks to persuade businessmen to pare the average work week from 46 hours to 40 hours. Slower growth...
Nixon said he intended to retain the Agriculture Department but pare some of its "peripheral" functions so it could "concentrate exclusively" on serving farmers. Actually, his earlier plan to drop the department was going nowhere in Congress, and had become an enticing target for Democrats from agricultural areas. The department has become so unwieldy and inefficient that Nixon's plan to absorb its functions in a broader Cabinet division had administrative merit, but farmers feared, with some reason, that it would further dilute their influence...
...fares, which will be slightly higher in the summer, are to take effect Feb. 1, 1972, when the present IATA agreement expires. As welcome as its prices is Lufthansa's decision to pare the bewildering array of 52 different fares between New York and Frankfurt down to eight...