Word: steeling
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Dates: during 1980-1989
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...Lugar began work on the plan he will present to the Senate committee this week, he was considering adding sanctions on new investments by U.S. companies in South Africa and a ban on imports from South Africa's state-owned steel and coal industries. If he seems calm about the policy storm looming, it may be because he is confident that his plan will receive serious attention. Says Lugar in a deceptively mild tone: "I'm not the kind of person who is easily rebuffed...
...near monopoly of some strategic metals, which worries the Pentagon. If Pretoria decided to retaliate against U.S. sanctions, it could refuse to sell these materials. South Africa holds 84% of the world's known reserves of chromium, which is essential in the production of stainless steel and superalloys used in the defense, aerospace, chemical and power-generation industries. Private stocks of chromium in the U.S., which does not mine the ore, would last only a few months. South Africa has 81% of the world's platinum and its closely related metals, which are needed for many explosives and fertilizers...
...imposed by Reagan last September, which prohibited the purchase of Krugerrands in the U.S. and the export of computers to South Africa. Among Lugar's proposals: ending landing rights in the U.S. for South African airlines, freezing U.S. bank accounts of South African citizens, and prohibiting American imports of steel and perhaps coal. Lugar will present his measure to the Foreign Relations Committee next week...
...rooftops and security men disguised themselves as bewigged footmen. By 10 a.m. the first of the 1,800 guests began taking their seats in the abbey. First Lady Nancy Reagan and Prime Minister Margaret Thatcher were in attendance, along with Opposition Leaders Neil Kinnock, David Owen and David Steel. So too were Actor Michael Caine, TV Host David Frost and Singer Elton John, sporting purple glasses and a ponytail...
...grown every year recently despite a surge in bank failures. Profits in the overall banking industry are growing at an estimated 10% or better annually, and last week four of the major New York City institutions reported robust quarterly earnings. Along with the painful contraction taking place in the steel industry, the regional banking woes are the natural result of the ebb and flow of economic tides. While some players may founder, the system shows no signs of sinking...