Word: worth
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Dates: during 1970-1979
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Friends say the father soon had second thoughts about Little Bruce's aptitude for the family business and urged him "to look for a 9-to-5 job." The son ignored the advice and ended up last summer in the Chester County prison farm for stealing $2 worth of gas from a farmer. Released on bail, he was promptly sent back to the farm for stealing a pickup truck. Little Bruce was despondent because he had been planning to marry his girlfriend, pretty Robin Miller, 15, who lived on a farm in nearby Oxford. But he resolved to follow...
...dilemma created by Iran is one that would have tested any American President. The Carter Administration inherited a relationship with the Shah that could hardly have been more cozy. In 1972 Richard Nixon decided to lift all restrictions on arms sales to the Shah. Soon billions of dollars' worth of the most sophisticated weaponry and aircraft in the U.S. arsenal began pouring into Iran. America's decision to depend on the Shah as its surrogate policeman in the Persian Gulf was perceived as even more crucial in the aftermath of the 1973 Arab oil embargo, when Iran disregarded...
...early 1970s, with more than 300,000 U.S. troops in Viet Nam, the Nixon Doctrine enabled Washington to speed up sales and gifts of weapons to important allies, without also sending troops. Iran was one of the chief beneficiaries, receiving $14 billion worth of military goods between 1972 and 1978. The Carter Administration continued the policy of supplying arms to "regional influentials," including Iran, Saudi Arabia and Turkey. Turkey has the largest standing army of any NATO country apart from...
Pawn the Library. Desperate to meet a payroll, the University of Miami once hocked $1 million worth of library books to Miami's Pan American Bank in order to secure a $400,000 short-term loan. Fortunately, that was some years ago, and today the library is safely out of hock...
Loan the Stock. Harvard nets $1 million annually by risk-free loans of its stock to brokerage houses; the firms use the short-term loans for bookkeeping purposes. Of course, it helps when pursuing this strategy to have Harvard's stock portfolio, which is worth $700 million...