Word: short
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Dates: during 1980-1989
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...work force, and has begun closing down operations at 16 plants. But it has also invested $50 billion to build eight new plants and modernize 19 others. Says GM President Robert Stempel, 54: "That's the long- term approach. Roger could have forced us to concentrate on short-term earnings, but he didn...
With a haircut, a couple of breath mints, and wearing its job-hunting clothes, this bluesy ramble about being down but not quite out in Texas might pass as the loosest-jointed novel in years. As things are, call it a collection of related stories, some short, some tall, and some too lackadaisical to stand up and be measured. Good stuff, anyway, whose major virtue is that it is extraordinarily lifelike. Which is to say, messy, disorganized, contrary, repetitious, tacky, funny, if you are in the mood for that sort of thing -- and in need of laundering...
...neighborhoods where mobsters lived. He had a sense of their behavior and values. "I knew how to act natural so no alarms would go off," he says. So natural, in fact, that as a Mob hanger-on, he got close to Mafia Soldier Lefty Ruggiero, a neurotic worrier, chronically short of cash, who became Pistone's mentor in check-cashing scams and drug and gambling deals. Pistone also "felt a kind of kinship" with Dominick ("Sonny Black") Napolitano, a killer who kept pigeons on the roof of his Brooklyn apartment building and was to become the acting boss...
...central banks handily accomplished their short-term goal. "They have sent a message: It is no longer a sure thing to bet against the dollar," says Robert Hormats, vice chairman of the Goldman, Sachs International investment firm. Intervention, however, can be used only for fine tuning a currency's general direction. Too much intervening can disrupt a country's domestic economy. West Germany in particular is getting weary of issuing so much of its own currency to trade for dollars, a process that can lead to inflation...
...commission's proposal would bring under one master two radically different kinds of markets. An investor who buys stock gets tangible shares of a corporation, which can be held for the long term. The person who buys or sells a stock-index future, in contrast, is making a short-term bet on which direction the overall market is going to go in the near future, usually a month or less. Thus the Chicago Merc is used primarily by brokerage firms and speculators seeking quick profits, and by money managers who want to hedge their portfolios against losses in the stock...