Word: petersons
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Whenever business executives get together these days, the talk quickly turns to the strong dollar. Says Peter Peterson, former chairman of Wall Street's Lehman Bros. and Commerce Secretary during the Nixon Administration: "I am on five company boards, and on four of them there is much more discussion about the dollar than ever before." Peterson, who was a guest at the meeting of TIME's Board of Economists, called for quick action to stop the rise of the dollar and help American exporters. His program...
Reduced Budget Deficit. "The first step," says Peterson, "is to get our budget deficit down on a long-term structural basis." He believes that even a relatively modest first-year cut of about $50 billion would be helpful. If the reductions included freezes and a cap on cost of living increases for programs like Social Security, the moves would send "the kind of signal the financial markets really need to get long-term real interest rates down." Lower rates would make the dollar less attractive to foreign investors...
...Abroad. The U.S. has been the engine of expansion for the world during the past two years. Other countries, especially those in Western Europe, and Japan, should now stimulate their economies and share the burden. Such action would boost their imports and lower the U.S. trade deficit. Foreign countries, Peterson stressed, must do their part to buy Third World goods in order to bolster the income of heavily indebted nations, which is essential to keeping the international debt bomb from exploding...
DARTMOUTH (59)--Corkum 0-0-0; Morwick 2-0-4; Murray 5-2-12; Daigle 7-5-19; Stoddard 0-3-3; Peterson 6-5-17; Fortin 1-2-4; Taylor 0-0-0; Breen 0-0-0; Totals...
...They have a real height advantage and that's what they used to win," said Harvard Co-Captain Wendy Joseph. Indeed, the hosts' trio of six-footers--Jane Daigle, Sue Murray and Margo Peterson--combined for 48 of their team's 59 points...