Word: weekes
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Dates: during 1970-1979
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...interest rates. The IBM paper carried a yield of 9.41%, whereas even the new Treasury notes and government bonds returned fractionally higher interest. Also, over the Columbus Day weekend, rumors began to circulate that IBM's third-quarter earnings were down. In fact, as announced late in the week, they fell 18%. The unsold paper, possibly $300 million worth, was dumped on the open market, where it fared badly. IBM's timing ignored a hoary Wall Street axiom: "Never commit yourself to a major issue before a long weekend. Who knows, we may be at war by Tuesday...
...able to swing a loan of $1.6 million. The project was to be completed last April. Then he had trouble putting the package together. Work on the building started 14 months behind schedule. Meanwhile, the interest rate on Deane's loan has been going up and up; last week it reached 17.75%. The people who had been assured of mortgage loans are no longer certain that they can get them, or afford them, at the new rates. The space he hopes to sell has risen by as much as 50% in value over the past two years...
Speaking publicly and privately with undecided Senators last week, leading statesmen of the member nations kept emphasizing that it will be politically possible to deploy new medium-range theater missiles in Europe only if SALT is approved. Without the pact, jittery West Europeans living only a few hundred miles from the Iron Curtain would not consent to the nuclear weaponry that nato so urgently needs, notably 1,000-mile range Pershing II and ground-based Cruise missiles capable of striking Soviet cities and military targets...
Though the Carter Administration lad earlier claimed that SALT should be judged on its own merits, the White House was clearly linking the pact to NATO concerns last week. If the treaty is rejected, Administration spokesmen declared, Western Europe might face the breakdown of NATO and eventual "Finlandization," as its members seek private accommodations with the Soviet Union. Warned Delaware Democrat Joe Biden, a leading pro-SALT Senator: "Our NATO allies have had their confidence shaken by our slow response to the energy crisis, by the decline of the dollar, and by what they perceive as American foreign policy setbacks...
Under mounting pressure from SALT supporters at home and abroad, the U.S. Senate seemed to edge closer to approval of the pact last week despite the setback caused by the uproar over the Soviet combat brigade in Cuba. That issue was somewhat defused when Senate Foreign Relations Committee Chairman Frank Church, who had helped trigger the crisis, introduced a mild resolution that he had worked out in advance with the White House. He proposed that before SALT can be approved, "the President shall affirm that. . . Soviet military forces in Cuba are not engaged in a combat role and will...