Word: yeare
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Dates: during 1970-1979
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While OPEC becomes richer, the rest of the world will grow poorer. For example, suppose oil hits $30 before the end of next year. Instead of a projected balance of payments surplus in 1980, the U.S. could wind up with a deficit of $15 billion, further weakening the dollar.* Overall, the combined balance of payments deficit for all industrial nations would climb from this year's $16 billion to perhaps as much as $40 billion in 1980. Developing nations would be hurt worst, since many of them have no exports of real value to count on at all. Their...
...says he. "They see no connection between what they do on the job and what comes out at the end." They spend their lives isolated behind typewriters and computer consoles. Gyllenhammar worries that company chiefs expect the industrial Indians to be machinelike. "If they die little by little every year, nobody cares very much." But millions of workers are becoming fed up, he believes, and the frustrations are rising equally in Europe, Japan and North America...
...outspoken, well-tailored $82,500-per-year superintendent of the nation's third largest school system, Chicago's Joseph Harmon was a favorite in the Gold Coast parlors of the city's business elite. In four years on the job his scrappy resistance to busing in the racially divided system, now 80% nonwhite, won him praise from whites-and steady criticism from minorities and the Federal Government. But when Hannon recently telephoned to talk about the schools with his friend Don Reuben, a well-connected local lawyer and adviser to Chicago's Mayor Jane Byrne...
...recalling a recent upbeat discussion of school finances with Hannon and his aides. "I don't think anybody with half a brain can mistake the difference between $43 million and $500 million." That was a puzzling claim, since Byrne herself was confusingly mixing together two separate problems-last year's operating deficit of $43 million, and estimated total indebtedness to bondholders and others...
Faced with all this, Hannon stunned the city, and the eleven-member school board, by handing in his resignation. The board had just renewed his four-year contract in September, but he was "tired," he said. He proposed a dramatic $70 million budget cut requiring the elimination of 1,700 jobs and the scaling down of programs for the disadvantaged. Two days later longtime School Board President John Carey also resigned, and left town on vacation, offering no explanation. After lengthy meetings with Mrs. Catherine Rohter, Carey's replacement as school board president, two of Hannon...