Word: shocker
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...biggest shocker came Wednesday when investors snapped up a $135 million issue of Pan Am notes. Those went so fast that the airline was able to sell an extra $15 million of the securities as well. To be sure, the notes have plenty of enticements: they pay 15% interest, are secured by airplanes worth an estimated $215 million, and can be converted into Pan Am common stock at $5.50 a share. That last feature alone could provide a handsome return, since Pan Am stock could take off if the airline became profitable again. Pan Am shares closed at 4% last...
ECONOMIC PREDICTIONS. The real shocker. The Administration is now forecasting two full years of double-digit unemployment: 10.9% this calendar year, a trifle higher than the 41-year peak of 10.8% recorded in December, and an even 10% in 1984. By the fourth quarter of that year, when the nation will be choosing its President, the rate would still be 9.6%.* It would not get down to 6.6% until 1988. The reason, Reagan's economists predict, is that the national output of goods and services will rise only 1.4% this year and 4% in later years, too slowly...
...note, he smiled slightly at the ironic signature of "Corporal," the rank held by the rebellious leader in the army reserves after serving in the military in the early '60s, but most of the correspondents in the room were too startled to laugh. Then came the real shocker: Urban announced that the burly, pipe-smoking electrician, the man who had come to symbolize the first independent trade union in the Communist world, only to see his hopes crushed by Jaruzelski's repressive regime, would be set free...
...Confidence Man this week, and is staging Strauss's rare Die Liebe der Danae as well; the Opera Theater of St. Louis in June presented the premiere of Stephen Paulus' ambitious The Postman Always Rings Twice, which it commissioned, and unearthed Prokofiev's youthful one-act shocker Maddalena...
...announcement was a shocker...