Word: rand
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...private buyers. The loss to the U.S. owners would be heavy. The impact on South Africa would probably be at least a temporary loss in skilled management and lower profits. But the Pretoria government, long anticipating all possible sanctions, has developed a two-tier exchange rate for the rand, with lower rates on money from the sale of foreign assets, that would minimize its own capital loss in any foreign- business pullout...
There are those who claim that Boston is a city designed by M.C. Escher, its maps labeled by Italo Calvino. Bostonians speak of a Central Artery that does not appear on maps or signs, of squares that are not square, not labeled and not acknowledged by Rand McNally...
While telecommunications experts were shocked by the magnitude of the proposal, it would merely be the latest in a string of major divestitures by ITT. Since he took charge of the company in 1979, Chairman Rand Araskog has spun off some 95 businesses worth about $4 billion. Meanwhile, he has channeled resources into such prized divisions as the Hartford insurance company and the Sheraton chain of 488 hotels and resorts. Says Herbert Goodfriend, a telecommunications analyst at Prudential-Bache: "Araskog is dismantling Harold Geneen's empire...
...area of proven vulnerability is finance. Last year, after several American and European banks demanded immediate payment on short-term loans to South Africa because of the deteriorating situation, the country virtually panicked. The level of the national currency, the rand, plummeted, and in September the government declared a moratorium on repaying its $14 billion in short-term bank loans. Says Jamaican Prime Minister Edward Seaga: "If Pretoria will not listen to arguments based on rights, it will listen to arguments based on rands." But no one expects measures against South African trade to be nearly as effective...
Other panelists supported the idea of integrating HMOs and other plans into Medicare. Prospective payment plans have shortened hospital stays and reduced the number of admissions, said Joseph P. Newhouse '63, a senior fellow of the Rand Corporation...