Word: slackenings
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Like a consumer who uses his credit card too often, many U.S. corporations now find themselves over their heads in debt. As sales continue to slacken and interest rates remain high, some of the largest and most successful American corporations are experiencing problems. Last week RCA Corp. was negotiating to sell its Hertz auto-rental subsidiary for about $700 million to Firestone Tire & Rubber Co. so that it could reduce its nearly $3 billion debt. Boeing saw its bond rating reduced by Standard & Poor's from AA-to A because it will have to borrow heavily in order...
...There has been a temptation to deal with China on a purely tactical level-to tighten our bonds when we are annoyed at the Soviets and slacken them again when things calm down. We should not use China to needle the Soviets. We need a long-term settled strategy that does not fluctuate with the ups and downs of our Moscow policy. We have a fundamental interest in the independence and territorial integrity of China. As China gets stronger, it may treat us with greater reserve; we should not delude ourselves about that. But in the next decade...
...further pressure on the dollar, which in the past two weeks has slumped to eight-month lows against key foreign currencies, sent gold climbing to glittering new heights, and made a mockery of the Administration's repeated assertions that the double-digit run-up in living costs would slacken this summer and abate substantially by year...
...cold weather did not deter undergraduates and students at the Kennedy School of Government from picketing around the Charles W. Engelhard Library of Public Affairs at the Kennedy School. Controversy about naming the library after the millionaire who had publicly condoned the apartheid government in South Africa did not slacken...
...mortgage rates, leading later this year to a slowdown in housing construction. Consumers are building up such heavy debts that they will have to start paying them back in several months. In response to the fall-off in consumer spending, business spending for new plant and equipment will also slacken...