Word: fording
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Dates: during 2000-2000
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...writer, Martin gives us a real biography, one that winds through Greenspan's geeky youth (band, glee club, math nerd) to his stint as a professional clarinet player and time spent in the inner circle of author Ayn Rand, and then to his advisory role with Presidents Nixon and Ford. Along the way we learn that Greenspan is yet another powerful political figure who was in the room but didn't inhale, and that as a child he was terrified of the movie Frankenstein. We also get plenty of quotable Greenspan-speak: "I know you believe you understand what...
...careers of Bush's chosen treasury secretary and vice-president and his inherited Fed chairman all date back to the Ford years. For a new millennium in which the U.S. economy must learn to play without its superstar of the past eight years, some knowledge of the old problems - high energy prices, dispirited consumers, international uncertainty - could come in handy. The new Republican president remembers the Reagan tax cut. His advisers remember stagflation. As long as somebody remembers Gingrich, Clinton and the virtues of sound fiscal policy, a little spring turbulence could work out for all concerned...
...team. Paul O'Neill got the first call, nominated for treasury secretary. Though seen as something of a Washington outsider, O'Neill, most recently chairman of the Alcoa Corporation, served for a decade in the Office of Management and Budget in the '60s and '70s. His work under Gerald Ford introduced him to then-White House chief of staff Dick Cheney...
...with gargantuan SUVs. "I'd like to use less gas," says Laura Blalock, a Memphis, Tenn., chemist. "But I can't enjoy saving Mother Earth if I'm worrying about getting squashed like a bug." Customers like Blalock won't have long to wait for heftier hybrids. In 2003, Ford will produce a hybrid version of its Escape sport utility, expected to get 40 m.p.g. By then, Toyota's hybrid minivan, the Estima, will probably have reached the U.S. market, along with a hybrid Honda Civic. Proving that hybrids are not necessarily environmentally virtuous, DaimlerChrysler has announced a hybrid version...
Whether they like it or not, automakers have no choice but to produce more hybrids. Skyrocketing SUV sales mean the companies' average gas efficiency is declining, so to meet federal rules the manufacturers need ultra-high-mileage vehicles to compensate. Ford's chairman, William Ford, has predicted that hybrids could account for 20% of the U.S. market in a decade. Beyond the need for fuel economy, however, looms the urgency of curbing greenhouse gases--a quarter of which result from car and truck emissions...