Word: discounted
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Dates: during 1980-1989
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James Robinson, chairman of American Express, argues for the creation of a new international organization, the Institute of International Debt and Development, or I2D2 for short. (American Express knows something about marketing, after all.) I2D2 would buy Third World loans from commercial banks at a discount in exchange for bonds backed by industrial countries. The United Nations Conference on Trade and Development offers a far more radical proposal: an outright 30% reduction of private bank loans owed by 15 major debtor countries...
...onetime Washington pharmacist, Herbert Haft started the Dart discount- drugstore chain in 1952 and built it into a 74-store firm with annual revenues of $283 million. So expert was he at keeping costs (and, some say, service) to a minimum that after he sold the chain to its operating managers in 1984 for $160 million, the new owners took out newspaper ads to inform customers that the stores were no longer owned by the Hafts...
Saturday morning and you're out at the discount store with the family. Suddenly the three-year-old starts hip-hopping urgently from foot to foot, and you know what that means. In the men's room there is no toilet paper. When Daddy asks for some, the woman at the customer-service desk eyes him as if he were just the sort of geek to jam the roll down the toilet, flush twice and drown everybody in the store. The toilet, it turns out, does not flush well anyway. Also there's no soap, and the sink...
...financial services at the WEFA Group, an economic-consulting firm based in Bala-Cynwyd, Pa., predicts that within the next six months consumer prices will rise by as much as a 6% annual rate, compared with last year's 4.4%. But others voice concern that the hike in the discount rate could damage the economy. Democratic Senator James Sasser of Tennessee is concerned that higher interest rates could strengthen the dollar and widen the trade deficit. A rising dollar tends to make U.S. exports less attractive to overseas consumers at the same time that imports become less expensive for American...
...jump in the discount rate did give a short-term boost to the dollar. In one day, the value of the greenback jumped from 1.90 West German marks to 1.92, its highest level in 18 months. But by week's end foreign-exchange traders sold dollars and drove the value of the currency back down. They calculated that U.S. trading partners might intervene to prevent the U.S. currency from rising...