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...reduced the willingness to increase compensation." Concluding that "only a commitment to serious reform will convince Americans that trust and confidence can be restored and that increases in salary are justified," the Peterson commission recommended a financial code of conduct for federal officials to go along with the pay hike...

Author: /time Magazine | Title: THE GOVERNMENT: How to Get--and Keep-the Best | 1/10/1977 | See Source »

...that in The Game, with Larry Brown lined up as QB and Buckley at slotback, the quarterback took the hike, pitched to the slotback, who pumped to the split end, and then threw to the quarterback, who was now a receiver and had scampered out into the left flat, all for an incompletion...

Author: By John Donley, | Title: The Best and Worst of '77: Should Old Acquaintance Etc. | 1/3/1977 | See Source »

...increase in the average price of oil imported by major consuming nations-enough to put a drag on the global economy. French President Valéry Giscard d'Estaing estimated that OPEC price boosts since 1973 have hit the French consumer as hard as a 50% hike in income taxes would have, and asked bitterly, "What would happen to a government that decided to increase income taxes 50% and then transferred the money to a foreign country...

Author: /time Magazine | Title: OIL: The Battle of the Barrels Begins | 1/3/1977 | See Source »

Most oil experts expect OPEC to re-establish a common price after its next scheduled meeting in July. But what price? One guess is that the majority eleven will forgo the additional 5% hike set for July, and the Saudis and the Emirates will move up from 5% to 10%. A minority view is that the eleven will be forced to cut their prices by such devices as discounts for crude with a high sulphur content, and the eventual increase will settle somewhere between 5% and 10%. Oilmen see only an outside chance of a price war between the Saudis...

Author: /time Magazine | Title: OIL: The Battle of the Barrels Begins | 1/3/1977 | See Source »

...some surprisingly caustic remarks about his OPEC colleagues. How did he feel about breaking ranks? "Is it fair for all OPEC to get together to decide the price of Saudi crude? Is it fair for others to decide against our will?" What about OPEC arguments that a big oil hike is justified by inflation in the prices of Western goods that oil producers buy? "The OPEC figure of a 26% rise in prices of goods we import from the West is not correct. If you take the [International Monetary Fund] index, the rate of such inflation is less than...

Author: /time Magazine | Title: OIL: The OPEC Supercartel in Splitsville | 12/27/1976 | See Source »

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