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...that can be used only to settle bills within the Soviet-bloc Council for Mutual Economic Assistance (Comecon), some of it in hard currencies that can buy goods or pay debts in the West. But the Soviet Union also supplies its allies with oil, natural gas, iron ore, cotton, timber and other commodities, all at prices below those prevailing on world markets. In exchange, the Kremlin buys Czech shoes, Polish machinery and Rumanian textiles that are too poorly made to sell in the West. According to Jan Vanous, a specialist on Soviet-bloc economies at the Wharton Econometrics Forecasting Associates...

Author: /time Magazine | Title: The Price of Empire | 1/18/1982 | See Source »

Indonesia has failed to diversify its exports away from raw materials and has been hurt by falling prices for timber and rubber. The country relies on income from oil exports, but its petroleum reserves may be exhausted within 15 years...

Author: /time Magazine | Title: Asia Takes the Fast Track | 1/11/1982 | See Source »

Industries that provide materials to the automakers and homebuilders are also in serious trouble. Steel companies have idled about 50,000 employees, and the rubber industry has laid off some 10,000. The timber business has toppled. In Oregon alone, 22,000 lumber workers have lost their jobs. Governor Victor Atiyeh has declared the industry to be in a "state of emergency" in an effort to qualify local businessmen for federal relief loans...

Author: /time Magazine | Title: Gathering Gloom for Workers | 12/14/1981 | See Source »

...forays at gourmet cooking are disasters; insolvency threatens. Then, in the nick of time, Lundgren's wife Diana gets him a job with Dr. Rabun, a prosthetic Edison who designs sexual aids that imitate the motion of swimming porpoises. The doctor's problems: his extensive investments in timber and real estate are being skimmed, and his gay son and free-spending wife are bleeding him dry. Warlock's assignment: remove the bad apples from the barrel...

Author: /time Magazine | Title: Books: Hick Gumshoe | 11/9/1981 | See Source »

...handful of local loggers and their families emigrated to Alaska to avoid having to live near the volcano. But most are making money cleaning up. Tom Henderson, a foreman of a team of loggers working to salvage what might be as much as $50 million worth of downed timber for Weyerhaeuser Co., gets $11.80 an hour, plus a $6-a-day hazardous-duty bonus. So does Norm Pettit, who came from Coos Bay, Ore., because "this is the only boom area in logging in the county." Jobs with cleanup and logging crews have attracted enough newcomers to push enrollment...

Author: /time Magazine | Title: Environment: Slowly, the Wounds Begin to Heal | 5/18/1981 | See Source »

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