Word: ratings
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Dates: during 1970-1979
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...Because its dealers' lots are overflowing with slow-selling cars, Chrysler has been forced to add to its own sprawling stockpiles. Inflation raises the cost of financing this inventory and adds to the company's financial burden. The wholesale price index in July jumped at a 14% rate, the worst since February...
Since Chrysler, by its own reckoning, is now spending at a rate of about $100 million a month, guarantees for even $750 million in new debts (on which interest would have to be paid) will not go very far. Next year the company will have to repay or renegotiate $303 million in European loans and $284 million in U.S. borrowings. The prospects are good that the company, after a hard fight, will win congressional approval for aid in 1979. But the chances are also strong that hungry Chrysler, like Oliver Twist, will return for more some time next year...
...where sales taxes are high, avoidance schemes abound. The simplest ruse is the empty-box trick. The customer buys a big-tag item, such as an expensive suit or shoes and makes a deal with the merchant to "mail" it to an address in a state with a lower rate. The merchant obligingly sends an empty box, and the customer walks out with the goods. A variant is to send the purchase to a friend in another state. Rob, an accountant, saved $600 on a $12,000 painting by having the gallery mail it from Chicago, where the state sales...
...cost: about $300 for consultation and the initial work plus $400 for every successful pregnancy. Dr. Kourken Bedirian, a Canadian physiologist who has pioneered the transfer of cow embryos, says that the success rate has averaged more than 60%. About 10,000 transferred calves have been born since the process moved from the lab to the barn in the early 1970s, and the procedure is rapidly spreading in the U.S. and Canada. For Bossie, motherhood will never be quite the same again...
...federal courts, which outnumber criminal cases 4 to 1, increased from 87,321 to 138,770 between 1960 and 1978. Over 16,000 cases have been pending for more than three years in federal district courts, double the backlog ten years ago. "If court backlogs grow at their present rate, our children may not be able to bring a lawsuit to a conclusion within their lifetime," predicts Harvard Law School Professor Laurence Tribe. "Legal claims might then be willed on, generation to generation, like hillbilly feuds; and the burdens of pressing them would be contracted like a hereditary disease...