Word: staved
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Dates: during 1970-1979
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Lockheed's pressing financial worry was not a lack of cash or poor earnings, but a balance sheet weakness that Haack, who took over as chairman four months ago, defined succinctly: "We've got to get the debt down and the equity up." In order to stave off a Lockheed bankruptcy in 1971, the Government guaranteed $250 million of an infusion of $645 million in bank borrowings by the company. This has left Lockheed burdened by a ratio of debt to shareholders' equity that would be uncomfortably high for any company. Under the new refinancing plan...
...worse, she totally glosses over any political explanation for his decisions about Vietnam. By strictly adhering to a psychobiographical analysis, she denies the frame of reference provided by the Pentagon Papers, and their interpreters. A far more logical explanation for some of Johnson's moves--the desire to stave off a defeat through stalemate until the next election, put forward by Daniel Ellsberg in his 1971 essay "The Quagmire Myth and Stalemate Machine"--is totally ignored...
...term as Chancellor was less distinguished. Casting himself as a sort of monetary St. George, he led the costly and ultimately unsuccessful struggle to stave off devaluation of the British pound during the first Wilson government in 1967. At the time, one of his Cabinet colleagues complained: "Jim was a pushover for the treasury mandarins. He simply did not have the intellectual equipment to overrule their traditionalist advice." But Callaghan has a shrewd sense of grass-roots opinion, and in the words of one junior minister, he "knows what the ordinary bloke will wear and not wear." He enjoys more...
...first, Wilson's posture was relatively orthodox, especially his stubborn three-year struggle to stave off devaluation of that national totem, the pound. After the failure of that costly effort, Wilson more and more found himself locked in a battle with his party's leftists. Turned out of power in 1970, he began tending his frayed ties with the unions and the Labor left as he watched Tory policies lead to a confrontation with the unions that nearly paralyzed the country. In his election campaign of 1974 he promised to restore labor peace with a "social contract" providing...
...billion outstanding in foreign loans, many of them coming due soon. The U.S. and the European Economic Community are insisting on tough anti-inflationary policies, including wage restraint, as a precondition for granting more credit. The Italian government fears that unpopular austerity is hardly the way to stave off Communist ambitions to participate in the government...