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Dates: during 1970-1979
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Democrat Arthur Okun complains that the Fed has lost much of its control over credit policy as a result of innovations, such as money market certificates and mortgage-backed securities, that are designed to keep banks and thrift institutions flush with funds for home loans. Says Okun: "Money is easy but expensive, and nobody is saying no to any borrower. They're saying, 'The price is high. Won't you take...
...present seems dismal enough. Though U.P.I.'s 850 reporters clack out almost 8 million words and figures a day, they are unable to match the sheer ubiquity of A.P., with 1,401 journalists. As a result, when editors are forced to cut back on their wire budgets, many drop U.P.I. in favor of the more comprehensive coverage provided by A.P. Some 1,365 U.S. newspapers belong to A.P., while 1,115 subscribe to U.P.I...
Managing Editor Ray Heard walked into the paper's newsroom one afternoon last week and delivered the brutal message: after 110 years of business, the Montreal Star (circ. 114,000) had published its last edition. The evening daily had lost $14.6 million and 50,000 readers as the result of a bitter eight-month pressmen's strike that ended in February. So the owner, F.P. Publications (the Toronto Globe and Mail and six other Canadian dailies), decided that with the balance sheet red and the broadsheet unread, the Star was better off dead...
When a European director makes a film in English, the result is almost always disaster: Truffaut, Antonioni, Bergman, Visconti, Wertmuller have all come to grief when straying from their mother tongues. But Bertolucci, who once broke down the limits of propriety in Last Tango in Paris, has now crashed through the language barrier as well. With the crucial collaboration of Jill Clayburgh, he has made a movie in English without sacrificing any artistic integrity. Indeed, Luna may be his most controlled and personal film to date...
...result of all the carnage was that the Angels played less than .500 ball after the mid-season All-Star break and limped home with fewer than 90 wins. Even the great Carew is not playing up to par. This year his batting average sagged to .317, mostly because his hand has not yet healed. Still, there are bright spots, which management hates to mention because every silver lining seems to contain a cloud. For one, Southern California now has something to do besides hunt for gas stations: Angels' attendance was up nearly 50% from last year...