Word: chases
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...light faded, groups of pollos (chickens, a slang term for the immigrants, who tend to travel in flocks) filed into the canyons and the chase began. A border patrolman looking through an infrared nightscope at a hillside spotted four human shapes and summoned a helicopter hovering over a nearby ravine, but by the time the chopper arrived they were gone. Another agent was about to leap out of his truck and arrest three illegals in Moody's Canyon when his radio crackled out news of bigger game: a dozen immigrants heading toward the fields abutting Otay Mesa Road...
...subtract the missing payments from second-quarter profits. Faced with a similar dilemma in March, the banks got their money when the U.S. Treasury helped put together a $400 million bailout plan for Argentina. Unless another rescue materializes this time, such banks as Manufacturers Hanover Trust, Citicorp and Chase Manhattan could suffer painful losses...
...painful they would be has been the subject of nervous speculation and dispute. Early last week the First Boston investment-banking firm provided the Wall Street Journal with estimates that, at worst, Manufacturers Hanover would lose 60% of its expected second-quarter earnings if Argentina missed its payments, while Chase would suffer a 25% drop and Citicorp a 15% decline. Some of the banks admitted that their profits would dip but said the losses would be modest. Maintained Citicorp Vice President John Maloney: "The First Boston projections are completely off the wall." Nonetheless, jittery investors dumped bank stocks...
...later First Boston released revised figures for Argentina-related second-quarter profit declines that were not as gloomy: 36% for Manufacturers Hanover, 17% for Chase and 9% for Citicorp. In addition, Federal Reserve Chairman Paul Volcker down-played the June 30 deadline: "I don't think it's terribly significant. What is at issue here is a fairly limited number of interest payments." Chase shares stabilized and finished the week at 31⅛, but Manufacturers Hanover stock slipped another ⅝, to close...
...those over 20, who no longer have the joy of the chase, the Square offers a bar for every taste, establishments which range from ratty to self-consciously effite...