Word: walle
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Dates: during 1970-1979
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...Drummond, on duty. Des Moines, Los Angeles, Baltimore ready to ask questions. President does not eat. Already been up several hours. He sips water. Puffy eyes. Still tired from Camp David. Delicious fatigue. New spirit in room. Respect from press. Carter easier. Abe Lincoln looking benignly down from the wall, chin in hand, elbow on knee. Carter with chin on thumbs, then arms around knees...
...dollar run. Washington policymakers are still frightened by the episode because they have no idea why it started. While not predicting The Crash of 79, the dramatic title of a novel that foretold the collapse of Western civilization after a dollar disaster, Henry Kaufman, a partner in Wall Street's Salomon Bros., warns that the attack on the dollar "has placed the entire international monetary system in jeopardy...
...Phillies took the lead in the second inning when Ted Sizemore singled with two on, scoring Mike Schmidt from second. Carlton followed with a three-run blast over the left-field wall...
...problem, the catalyst for throwing Youngstown out of work. Youngstown Sheet and Tube, locally-owned and highly-profitable in the '60s, was 1969's Ripe Takeover of the Year. Lykes Steamship Company, based in New Orleans and one-seventh the size of Youngstown, borrowed the buy-out capital from Wall Street and elsewhere, using Youngstown's positive cash flow as collateral. Since 1969, Lykes invested next to nothing in modernizing the Youngstown plant--profits went to pay off the buy-out debt. Meanwhile, Japanese and some American plants switched to the more efficient oxygen furnaces, at I when the down...
...alleged "steel crisis," the Wall St. Journal noted this past July 15 that the industry was operating at full capacity. Alperovitz even predicts the steel equivalent of a "refinery shortage" in the '80s, in which an artificially reduced number of steel plants will make a killing. The Carter Administration is doing its best to bring this about: Attorney-General Griffin Bell approved Lykes' salvage plan of merging with LTV Corporation, despite the ruling by his own Antitrust Division that the merger was illegal because LTV operates Jones and Laughlin Steel...