Word: upping
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Dates: during 1970-1979
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Four New York bond trading houses have failed. One of the victims is Frederick Gorsetman, 34, who, riding along with rising bond business in August 1978, opened his own firm. But when the Federal Reserve drove up short-term interest rates, his firm had to absorb devastating losses on bonds...
Early last week typical spot prices for Persian Gulf crude stood at $37 to $38 per bbl., vs. OPEC's official maximum of $23.50. After the seizure of the U.S. embassy in Tehran, rumors swirled that anti-American fanatics were shutting the tap on exports. Spot traders began desperately...
The confusion was an invitation for price gouging. The National Iranian Oil Co. (NIOC) demanded $50 per bbl. for some oil it put on the spot market and threatened that if its regular customers did not pay the price, NIOC would refuse to renew its supply contracts when they expire...
Last week, like proud parents of a sickly child who suddenly won the bantam championship, AMC announced that profits more than doubled, to a record $83.9 million on sales of $3.1 billion for the fiscal year ended in September. True, earnings declined in the industry's dismal last quarter...
AMC has rested its survival strategy on what Chairman Gerald Meyers calls a "three-legged stool" of small cars, Jeeps and steady Government contracts for postal vehicles and military tactical trucks. Since 1974, AMC's line-up of cars has shrunk from six to three: Concord, Spirit and Pacer...