Word: pound
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...most of Europe, 1976 was a year of disappointment and frustration. As Britain and its once proud pound continued to slump, Labor Prime Minister James Callaghan began talking like a Tory; he urged the trade unions to ease off on wage demands and ordered cuts in costly social services. Italy's Communists under Enrico Berlinguer came closer to entering the government by increasing their vote from 27% to 34%, while the tired Christian Democrats held steady...
...senate before running unsuccessfully for Governor in 1966. The next time around, he ignored the minuscule local Democratic machine and concentrated on opposing mining interests who wanted to despoil the White Cloud Peaks−a federal recreation area−n search of molybdenum. After his election, he continued to pound at his preservation theme, winning a long and bitter fight to protect a 2,000-sq.-mi. "primitive area" from lumbering interests. Going against the wishes of local power companies, he opposed construction of a giant coal-fired electrical generator not far from the state capital of Boise. He also...
...lost pot was sure to heat up tempers in New York. Officials believe that New York Mafia Leader Carmine ("Lillo") Galente had bankrolled the DC-6 flight for $500,000 (based on roughly $20 a pound−the Bogota rate−plus $180,000 for the plane and other transportation costs). Galente has long wanted to re-establish the New York mob in the narcotics trade. Since the death of Carlo Gambino last fall, he has been struggling with another mobster, Aniello Dellacroce, for control of the New York underworld (TIME, Nov. 1). The plane's loss can hardly...
...plane's speed does not diminish−one experiences a neural alarm he has never in his wildest fears imagined before: This is not an airplane coming toward me, it's a brick, and it is not gliding, it's falling, a fifty-thousand-pound brick, headed not for a stripe on the deck, but for me−and with a horrible smash...
...effect on some other major industrial countries would be far more worrisome. Beleaguered Britain, whose own North Sea wells have barely begun production, still imports most of its crude; an OPEC boost would intensify British inflation, already nearly 15%, and put more pressure on the sinking pound. Oil imports in the first nine months of 1976 added a net $5.5 billion to Italy's trade deficits, 45% more than a year earlier. To pay for another oil hike, Italy would have to cut other imports sharply and borrow additional cash from its trading partners and the International Monetary Fund...