Word: walls
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Dates: during 1970-1979
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...wide strip of used car lots, fast food restaurants and gas stations, leads to Graceland. By noon the rising temperature is well into the 90s and ambulances are carrying away those who have succumbed to the heat while crowding in front of the ornate plantation-style house. A brick wall on the grounds has turned into a "Wall of Love," covered with scrawled messages from admirers. Some of the fans have patiently endured the three-hour wait every day for a week so they can again and again walk up the shaded driveway, past rows of huge flower arrangements sent...
With the issues becoming tangled, Farber and the Times last week seemed to be losing friends even in the press. Washington Post Columnist Haynes Johnson wrote: "All those high-sounding statements about journalistic integrity and courageously protecting news sources in defense of the Constitution now appear compromised." Warned former Wall Street Journal Editor Vermont Royster: "Not the least of the risks we run in raising the banner of the First Amendment on every occasion is of appearing arrogant to the people...
...over $2 for the first time since 1976. Despite the later rally, at week's end the dollar had registered these drops just since mid-July: 7% against the yen, 3.5% against the mark, 10.5% against the Swiss franc, 3% against the pound. Says James Sinclair, a leading Wall Street monetary specialist, expressing a worry widely shared by professional money managers: "The dollar weakness is now feeding on itself, and it could accelerate to a point where it will be impossible to stop its slide...
...sale to Peugeot will do nothing to reduce this year's losses-a fact that Wall Street was quick to appreciate. Although Chrysler's stock jumped after the announcement, it quickly fell back, closing the week at 12.5. But experts applauded the decision. Said Arvid Jouppi, a top Detroit analyst: "Chrysler's strategy is to become strong domestically and abandon the world market. I would rather have 15% of a strong company like Peugeot than overseas assets that were too heavy to bear...
What troubles Abboud now is that U.S. capitalism is not getting enough new capital. "There is a tremendous disinvestment in the economy," he says. The number of shareholders has shrunk so drastically that Wall Street's plum has become a prune. Americans are spending instead of investing, figuring as do Latin Americans that it is better to buy now because the price of everything is going to be higher tomorrow. "In consequence," adds Abboud, "big firms like A T & T can get capital, but small companies have a hard time. So the basic job-producing engine is drying...