Word: cashing
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Dates: during 1980-1980
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...Florida will go on trial in Washington. His chief witness will be a psychic who plans to testify that she told Kelly to beware of FBI agents and that is why he decided to conduct his own investigation. Part of that inquiry, Kelly claims, involved stuffing $25,000 in cash from an ABSCAM "Arab" into his pocket, as captured by the FBI cameras. -By James Kelly. Reported by Evan Thomas/New York...
...mandate to negotiate an economic settlement with the workers and that he still enjoys the Kremlin's confidence. The crucial question: How much will the Soviets let Gierek negotiate away? The Soviets apparently approve Gierek's goal of trying to defuse the workers' political demands with offers of cash, and may well kick in some financial aid to bail Gierek...
...extensive black-market economy is condoned by the government. Desperate for Western currency, it allows citizens to maintain foreign currency bank accounts. More than 5 million Poles have such accounts, with estimated deposits of $400 million. The cash may be earned legally in various ways, sent in by relatives in the West or obtained on the black market. It can be deposited at 4% interest or spent in special hard-currency shops on imports and otherwise unobtainable Polish goods like high-quality vodka and clothing. Those who have no dollars can only go to so-called komercyjne, or commercial shops...
...earn the extra cash and hard currency needed to live better, moonlighting is common...
...more ominous economic sign last week was the extraordinary fall in corporate profits. Between April and June, company earnings plunged 18.2%, to $129.3 billion, the third biggest percentage decline since World War II. This means that firms will not have much spare cash in the future to spend on new investments that would create jobs and help end the recession...