Word: prudently
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Last week's Canadian airlift was a model of prudent planning. Ottawa flew in 25 immigration and medical officers to process immigration applicants, expected to number 5,000. When Ugandan Dictator Idi Amin Dada insisted that Canada pay East African Airways a kickback of 20% on every fare, the Canadians decided to make the airlift free. Explained one indignant diplomat: "We would rather pay for the whole thing ourselves than pay ransom to Amin...
Private Faith. In the summer-lush countryside, the Soviet citizen can raise vegetables, stroll through the pine woods-and enjoy an extra measure of privacy unavailable in his city apartment. Even the KGB (secret police) pays little attention to what the citizen does on weekends in the country. Prudent during the week, he may read proscribed books once he is secluded in his dacha. Among typical articles of private faith furnishing many dachas are Alexander Solzhenitsyn's The First Circle, an LP of Hair, a photograph of Pasternak, and a bronze cross...
None of last week's steps eliminated the basic disparities between strong and weak currencies, notably the dollar. Speculators-and prudent businessmen -regularly shift their funds out of weak currencies and into strong ones (see box). The dollar is still quite weak, in part because the supply of U.S. money in foreign countries greatly exceeds demand. Until the supply can be brought down or controlled, the dollar's softness will be an unsettling force in the world...
...some currency. Volkswagen, for example, takes in billions of dollars each year from U.S. sales. When the dollar quivered at the start of last summer's currency crisis, VW executives reportedly transferred as much as $500 million into more stable German marks. The move was only prudent; the dollar's value relative to the mark eventually slipped 12%, and VW may have saved up to $60 million...
Wilson has built this empire in only 20 years, having started out with little more than an idea. A risk-taking entrepreneur in the age of prudent professional managers, he is a visible refutation of the common belief that a self-made man can no longer pile up great wealth in the modern, highly developed capitalist economy. Now Wilson has a personal fortune estimated to exceed $200 million. Three years ago, the Sunday Times of London listed him among the 1,000 most important men of the 20th century, along with Winston Churchill and Franklin Roosevelt...