Word: five
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Dates: during 1970-1979
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Apart from their frustration over the delays wrought by such environmental suits, U.S. oilmen feel that Washington is moving too slowly in leasing new offshore areas. The Interior Department recently stepped up its schedule of lease sales over the next five years, from 26 to 30, but that will do nothing in the near future to halt the gradual decline in U.S. oil production that began in 1971. Oil executives say that given the time it takes to develop offshore fields-the usual lag between discovery and full production is seven to ten years -leasing should be expanded sharply. After...
...employees was reduced to 16 from 50, and the top six managers took a combined pay cut of $71,000 a year. With union support, Broadwater dropped hourly wages to a flat $5, from as much as $6.50. Paid holidays fell to eight from twelve. Vacations, which had averaged five to six weeks annually, were reduced and dropped altogether for the first year. Also axed: the costly pension plan, which had been chewing up $900,000 a year, or between 6% and 7% of the operating budget. Instead, the shareholder-employees chose a combination of improved insurance benefits, bonus...
...when the government last tried to raise food prices (bread went to 2?), riots erupted that nearly toppled Sadat. But if the President is to get more foreign loans-he has said that Egypt will need $18.5 billion over the next five years-he needs the approval of the International Monetary Fund. The IMF has been pressing Egypt for economic reforms, particularly a cut in the subsidies, and it is sending a team to Cairo this month to see what progress has been made...
...sure of performing as well in Moscow. Says Coach Roger Counsil: "What we need are three more Bart Conners or three more Kurt Thomases." Thomas, 23, is in his prime as a gymnast. Now an assistant coach at Arizona State, he has honed his routines in international meets for five years. Conner, a senior at the University of Oklahoma, has begun to come into his own at 21. But the rest of the U.S. squad of six are still young and green...
...bear the names of the Japanese gymnasts who invented them. But a solid Soviet team, led by Ditiaid, 22, and the exciting Tkachev, 22, may change the language of men's gymnastics. Says former U.S. Olym pian Muriel Grossfeld: "The Soviets are superb, awesome under pressure. At least five of the six Soviet men can do [tricks] only one or two could do last year. It's amazing that a team could have that kind of depth...