Word: short-term
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...enjoy an uninterrupted march to greatness. The problem wasn't any lack of candlepower--Noyce, Grove and Moore were a dream team. The problem was the business itself. It kept changing. Just as Intel's leaders decided the future was in, say, selling dynamic RAM (a kind of short-term computer memory), messages started trickling back that sales were tanking, customers were evaporating and, ahem, top management had better pick a new strategy. It was a miserable way to run a company: desperately leaping into lifeboats, always at the last possible moment. One night Grove dreamed he was being chased...
...possible sparks. Their assumption that further precautions involving the fuel tanks were unnecessary has historically been supported by the FAA, whose sometimes contradictory mandate requires it to tend both the airline industry's safety and its financial health. Thus a year ago, when the safety board recommended four short-term protective measures focused on the fuel tanks, the agency politely ignored them...
...Stands Still Reserve chiefs met today to determine the direction of short-term interest rates. Their decision? Do nothing...
Just in from the Fed: There will be no change in short-term interest rates. Which was exactly what Wall Street was expecting; trading on both the Dow and NASDAQ was robust all day, and was expected to continue unflinching in the wake of the announcement. Faced with weighing the high-octane U.S. economy against the tenuous financial markets overseas, the Fed has not changed rates since late March; they will remain at 5.5 percent. In Money Daily...
...begin Jan. 1, 1999, will be the most important event to occur in the international financial system since the collapse of the fixed-exchange-rate system in the early 1970s. An independent Pan-European central bank will determine how much money to create and will set a single short-term interest rate for all member countries. But an interest rate that curbs inflation won't do much to create jobs during the highest European unemployment since World War II. If confidence in the single currency is shaken, investors will buy U.S. dollars, driving up their value and making U.S. exports...