Word: robustness
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...spicy enchiladas pack a punch. Crowds fill the gaily colored restaurant every noon and night. Such enthusiasm for Mexican dining was once largely confined to the Southwest, but now Chi-Chi's and other aggressive chains are sweeping through the heartland like modern conquistadors. With moderate prices and robust fare, they are capturing an ever growing chunk of the American dining-out dollar. Mexican-style eateries gulped down a hearty $3 billion in revenues last year, or nearly 4% of total U.S. restaurant sales. They bit off only $1 billion as recently as 1977, by contrast, and accounted...
...surprisingly robust dollar is a source of pride and problems...
...major benefactor of the robust dollar is the American tourist. Especially in Europe and Latin America, U.S. visitors are getting much more mileage from their traveler's checks than they were a year ago. Even though some hotels that cater to well-heeled visitors regularly raise their prices to keep pace with foreign currency changes, good values abound. In Paris, a four-course dinner at the three-star Tour d'Argent goes for about $54, expensive by most standards but still $17 cheaper than two years ago, thanks to a 74.8% appreciation in the dollar against the French...
This, as Kissinger suggests, may be as risky as overgenerosity. The banks thus have no easy way out of their bad-loan bind. They can only hope that a robust economic recovery, both in the U.S. and abroad, will revive the fortunes of the legion of hard-pressed debtor companies and countries. - By Charles Alexander...
...though, show that the current delirium is laced with doubt. Investors are nervous because they realize that the new optimism on interest rates grew out of pessimism about the general health of the U.S. economy. Both Kaufman and Wojnilower changed their forecasts because they could no longer foresee a robust economic recovery that would revive business-loan demand and boost the cost of money. Yet, without a strong reversal of business fortunes, the stock rally is likely to be short-lived. Says Monte Gordon, chief of research for the Dreyfus Corp. group of mutual funds: "Markets can respond to interest...