Word: middlemen
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Dates: during 1980-1989
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...London travel agencies that specialize in cut-rate fares: "An airline ticket is the most perishable commodity in the world. Once the plane takes off, that empty seat becomes dead loss" to the carrier. For that reason, many airlines sell surplus tickets at as little as half price to middlemen known as "consolidators," who typically agree to buy blocks of seats during the slow winter months -- when seats on certain routes go begging -- in exchange for a supply of cheap tickets in the busy tourist season. The consolidator adds a commission of perhaps 10%, then resells the tickets to travel...
...Attorney General Edwin Meese last week hailed it as "remarkable." So it was: the largest and most successful undercover ploy in federal drug law enforcement history. Acting simultaneously in Los Angeles, Miami and New York City, U.S. Drug Enforcement Administration officials reeled in some 80 smugglers, dealers and middlemen, and issued arrest warrants for about 35 more. An additional 351 people had already been nabbed on the basis of tips from the three-year operation. About $49 million in cash and property, along with 19,000 lbs. of cocaine with a street value of $270 million or so, was also...
...Reagan Administration's new 100% tariffs were levied on some Japanese color TVs, personal computers and power tools. Although the sanctions will affect only a tiny fraction of overall bilateral trade, they will hurt some Japanese manufacturers. But for the middlemen peddling Japanese microchips to foreign buyers, business will probably go on as usual. Already some American enterprises dependent upon inexpensive Japanese chips are busy looking for legal loopholes to exempt them from the U.S.-Japanese semiconductor agreement signed last year. In the meantime, tensions show no sign of abating. When Yasu calls on his friend...
...under government control, but by independent businessmen. Officials claim to be doing everything they can to stop that, as promised. Not good enough, retorts Commerce Secretary Malcolm Baldrige: "If the manufacturers try to get out of their obligation not to dump in third-country markets by using middlemen, that is a deliberate action. It is the government's responsibility...
...almost as soon as the agreement was signed, the U.S. began charging that it was being violated. The main culprits, in Washington's view, were Japanese manufacturers who continued to dump semiconductors, either directly or through middlemen, in such Asian markets as Hong Kong, Taiwan and Singapore. Washington was as sure of that activity "as I'm sitting here," declares Commerce Secretary Malcolm Baldrige. In January the Reagan Administration privately warned Japan that some kind of retaliation was likely unless the practice stopped. Washington finally conducted an investigation and satisfied itself that dumping had taken place. The Administration's preliminary...