Word: sunbelt
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Dates: during 1980-1989
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...Mexicans who see little chance of earning a satisfactory living in their crowded homeland. To enter the U.S. most pay $250 to $350 each to smuggler-guides called coyotes, who sometimes rob or beat them. If they elude the INS, the immigrants usually can find jobs in an expanding Sunbelt economy. If employers sometimes pay them less than the $3.35 an hour minimum wage-well, they still earn substantially more than they could in Mexico, where the minimum wage is the equivalent of 55? an hour for those lucky enough to find work...
...some parts of the Sunbelt, demand was doubling every seven years, practically overnight in an industry that normally plans on a 15-to-20-year schedule. The world of energy economics, though, was about to change. After the second oil shock, in 1979, which followed the overthrow of Iran's Shah, the price of OPEC crude reached as high as $40 per bbl. Energy consumers reacted to the staggering prices by conserving fuel in a way that had never been imagined. Demand for electricity increased by only 1.7% in 1980 and .3% in 1981 and actually shrank...
...rich Sunbelt states of Arizona and Florida hold particular appeal for banks. But until lately, big institutions in New York City and San Francisco left that prime territory to regional banks like Miami's Southeast Banking Corp. ($9 billion). Says Southeast Chairman Charles Zwick...
...worst in many ways. Crop losses, particularly those of citrus fruit in the Sunbelt, could total $500 million. Deaths directly and indirectly attributable to the two-week freeze numbered nearly 500. Tens of thousands of lives were disrupted...
...week's end readings had gone as low as a heart-stopping -55° in Wisdom, Mont. Even the Sunbelt shivered. "This is the worst ice storm I've seen in years," said Fort Worth Policeman Henry Green, as the city froze over. "And I've seen some doozies...