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...that it would be unwise to liquidate the country's military altogether. "If Iraq is totally out of the picture," says William Quandt, a Middle East expert at the Brookings Institution, "there is no counterbalance to Iran." At the same time, the U.S. and its allies are determined to wipe out Iraq's weapons of mass destruction and seriously impair its conventional war machine. Reconciling those two aims requires a delicate balancing act. "You want an Iraq weak enough that it can't threaten the weakest of its neighbors, yet strong enough to deter the strongest of its neighbors," says...
...purely hawkish chords were audible too, of course. "We have to go in there and do tremendous damage," said Chicago dentist Jerald Schwab. "We have to wipe out the military capability of Saddam Hussein permanently and totally. If we don't go to war, we are going to have much greater problems in the future." In Jacksonville an insurance agent by the name of George Bush, who is no relation to the President, said, "We have no other alternative but to go in before Saddam Hussein makes it worse. This maniac only answers at the point...
...debt. Total American debt -- government, corporate and personal -- stands at a record 190% of our gross national product. Historically, 140% would be a more reasonable level. But the best way to cut the debt isn't necessarily to lay everybody off and have a depression. Massive bankruptcies would wipe out a lot of debt but also make us a lot poorer. No, muddling through is a better idea, working down the debt over many years. By making things for export rather than for our own consumption, by spending more on infrastructure and less on shopping centers, and by spending less...
Poultry producers are trying to deal with the situation. They put chlorine in the chilling tanks, and they are experimenting with other chemicals in hopes of finding one that is more effective against salmonella. Irradiation could wipe out the bacteria, but it would be costly and consumer acceptance might be low, since many people mistakenly believe that zapping food with radiation makes it dangerous to eat. The visual inspections carried out routinely in the plants can weed out obviously diseased chickens, but the contamination is usually invisible. A panel of experts convened by the government may recommend soon that...
...companies have other ways to restructure their debt, notably by using corporate stock. Firms in relatively good financial health can raise money by offering new shares on the market. Mr. Coffee, which was leveraged to the hilt as the result of a 1987 buyout, was able to wipe out almost half its LBO debt through a new issue last May. Another technique is the debt-for-equity swap, in which corporations retire their bonds by giving lenders corporate stock. That strategy was employed by furniture maker Interco, which last week announced that it will swap 95% of the stock...