Word: yen
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Some days recently the real President (named Bush) has been crowded out of the news by the antics of the has-beens. Ronald Reagan was on display in Japan for a reported $2 million (or 284 million yen) from the Fujisankei Communications Group. Jimmy Carter was in Nashville instructing listeners on how he wrote his books. Richard Nixon huffed off yet again to China after disconnecting his AT&T phone service because the company was sponsoring the TV version of The Final Days, last weekend's account of the end of Watergate and Nixon's presidency. Gerald Ford...
...deficit. But their desultory attempts to push down the greenback prompted suspicion that the G-7 group had lost its clout. Last week the finance ministers made a concerted effort to bring the dollar down by intervening in the currency markets. The U.S. currency fell nearly 5% against the yen and about 4% against the deutsche mark by week...
ANYTHING BUT LOVE (ABC, returning Aug. 15, 9:30 p.m. EDT). Angst-ridden stand- up comic Richard Lewis, playing a magazine writer with a yen for Jamie Lee Curtis, made this midseason sitcom worth watching. Now it is back for a few weeks of reruns...
Although FBI agents masquerading as brokers spotted some wrongdoing in the pits where U.S. Treasury bonds and Swiss francs are traded, the bulk of the charges are directed at the Board of Trade's soybean pit and the Merc's Japanese yen pit. The yen traders have long been viewed with suspicion by other brokers, while the old clique of soybean traders had a reputation for playing by their own, traditional rules and resisting interference, even from their exchange officials. The Government has accused no fewer than 19 of the 50 soybean brokers and 21 of the 70 yen traders...
Then there is the industry's oddball marketing logic, in which automakers raise prices and offer discounts at the same time. Prices of U.S.-made autos have doubled within the decade, to an average of $14,000. "The strength of the deutsche mark and yen caused importers to raise prices rather quickly. But instead of taking advantage of that, American makers raised their prices along with them," says Ron Tonkin, president of the National Automobile Dealers Association. This year buyers can anticipate yet another round of increases, ranging from 4% to 7% on 1990 models. To reduce sticker shock...