Word: terme
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Dates: during 1980-1989
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...land-office business, expected to double to $70 billion this year (see chart). They are thus gaining rapidly on another method of borrowing against the American home, standard second mortgages, which are likely to be worth $130 billion in 1987. The conventional second mortgage tends to be a short-term, fixed-payment plan for a set amount, based on the value of a home that remains after deducting its first mortgage. But home-equity loans are different: they allow owners to put up their homes as collateral to open variable-rate, revolving-credit accounts good...
...Smyrna's dynasty survives. The five-member town commission took all of ten minutes to name Brother Knox to fill out the remaining 2 1/2 years of Sam's term. Said Knox: "Sam will be my right arm." Municipal policies will remain unchanged, and voters may not even notice that a new man is in charge: born 20 minutes apart 67 years ago, now with the same type eyeglasses and portly build, Sam and Knox are identical twins...
Thatcher, 61, had chosen June 11 as polling day to ride an evident swelling of Conservative Party strength. When she made the decision to take the country to the ballot box 13 months before the end of her five-year term, her party held a 13% lead over Labor in the polls. By the time the campaign got under way last week, the margin had shrunk, with polls showing the Conservatives at around 42% to Labor's 33%. The Alliance hovered...
...much in a letter informing Texaco Chief Executive James Kinnear of his investment: "The intrinsic value of Texaco's assets is substantially higher." Texaco agrees. In a statement, the company declared, "We assume that he shares the view expressed by others that . . . the stock is a good long-term investment...
...dramatic change? The main answer is maquiladoras, a Spanish term for the mostly U.S.-owned light-assembly industry that is flourishing along the Mexican side of the border from Texas to California. Born of a 1965 Mexican development plan, the maquiladoras have become employment mainstays of that country. An estimated 1,400 U.S. firms, including General Motors, General Electric and Honeywell, use the plants to take advantage of a Mexican minimum wage that at current exchange rates is less than 40 cents an hour. Japanese companies like Sony, Sanyo Electric and Hitachi have followed suit, and the resulting boom...