Word: spigots
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Dates: during 1970-1979
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...Arco Anchorage, and it leaves at dawn for Long Beach, Calif., carrying 120,000 tons of oil. Outside the harbor's "narrows," a glitter of orange lights signals the impatience of the 800-ft.-long, 71,500-ton Exxon New Orleans, waiting its turn at the spigot. Though they are less than half as big as the Ultra-Large Carriers (ULCCS), both ships are leviathans of 20th century technology: supersized carriers of an increasingly scarce resource. They are also dinosaurs. When the oil is gone, or is replaced as an energy source, these tankers will follow it into history...
...Burns. Under Burns' management, it is true, the money supply for the past year has bounced up and down erratically, and has generally increased at a rate that most conservative monetarists consider to be too inflationary. Nevertheless, many businessmen fear that if Burns is not reappointed, the money spigot may be turned on even more fully. Says Gabriel Hauge, chairman of New York's Manufacturers Hanover Trust Co.: "The key to a long life for this expansion is a sustainable pace, and to that end policymakers must resist the temptation to speed up the expansion by sharply intensifying...
...salary and bonuses. Most startling was the decline of Summa's cash position. From 1966 to 1976, Hughes pumped $715 million into Summa. Yet in March of this year, Summa had only $94 million left. Declared an alarmed Lummis: "There's going to have to be some spigot turning...
With the federal spigot turned off, and only so many $1,000 contributors to be found,* candidates are resorting more and more to "events" to raise cash. Arlo Guthrie is arranging concerts in 22 cities to drum up $250,000 for the faltering Harris campaign. Other candidates are relying on telethons, rock concerts, breakfasts and dinners to which they try to send their wives or children if they cannot attend themselves. Udall has forced himself to attend as many as three fund-raising parties a night despite being bone-weary from full days of campaigning...
...return for this partial surrender of home rule, the money spigot has been turned on again. Big Mac is empowered to convert up to $3 billion in short-term debt into long-term bonds. The new bonds will be backed by some $1 billion in revenues from the sales tax and stock-transfer tax. This arrangement is expected to reassure investors who were frightened away from city offerings...