Word: worth
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Dates: during 1970-1979
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...beating, since they usually pay fixed rates of return to investors and have values that fluctuate in accordance with overall interest rates in the economy. When interest rates rise, bond prices go down, and last week they fell through the floor. IBM had an offering of some $1 billion worth of notes and debentures, but many remained unsold when bond prices collapsed last week, leaving the underwriters with a loss of as much as $25 million...
...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." There was no war, but the underwriters were routed nonetheless...
From the Appalachians to the Rockies, the combines are churning through our land. Some of these $100,000 monsters can spew out $118,000 worth of soybeans in a day. The U.S. crops-the result of near perfect weather, rich land, technology and extraordinary enterprise-will be worth $61 billion this year (up 17% over last year's record of $52 billion...
...best friend can be a politician's worst enemy. Last week the French satirical weekly Le Canard Enchaîné charged that President Valéry Giscard d'Estaing, while serving as Finance Minister six years ago, had accepted a 30-carat tray of diamonds worth $240,000 from Jean-Bédel Bokassa, who was deposed as Emperor of the Central African Republic last month. There is no law prohibiting French politicians from accepting such largesse. The Elysée Palace, in fact, while trying to minimize what it called the "nature and value...
...halls of ivy? Or rather, the stalls of ivy? Two days of vigorous investigation produced nothing on President Bok's lavatorial literary leanings. His secretary, however, allowed that the boss "definitely did not wish to respond" to such a query, and then she put in her two cents worth: "Personally," she scolded, "I think it's in very poor taste...