Word: summering
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Dates: during 2000-2000
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Consumer advocates like former Senator Howard Metzenbaum, chairman of the Consumer Federation of America, hope that a government win might lead to a shake-up in interest rates, which this summer hit a six-year peak of 17.8%. Interest rates and penalty fees have shot up over the past several years, as issuers scramble to compensate for the growing number of Americans--now a majority--who clear their balances every month to avoid such charges. The fee system is at issue in several other cases involving the behemoths...
...Authority, established in 1991, has gone on a tear over the past couple of years, thanks to a strong-willed new President and a public that is fed up with rigged markets and insider deals. The insurance crackdown was its biggest to date, but earlier in the summer, the Authority slapped $320 million in penalties on eight oil companies for conspiring to fix gasoline prices. Even earlier, it fined the country's two main cellular-phone operators for setting identical prices for fixed-to-mobile calls. The Authority has even taken on Gorgonzola-cheese producers, forbidding them to set production...
...years had denied supermarkets the chance to sell their product and instead used pharmacies as the main means of distribution. As a result, according to the Authority, powdered- milk prices were two to three times higher in Italy than abroad. Supermarkets at last started selling the product this summer...
CANDICE CARPENTER A month after iVillage's IPO in March 1999, the stock price peaked at $130, only to slide to single digits by this summer, when Carpenter bowed out as CEO. WAS WORTH: $ 23 million, Oct. '99 NOW WORTH: $ 1.16 million...
...elite schools have moved aggressively to recruit at minority high schools--and even to improve the performance of students who are graduating from them. This year the U.C. system will spend $250 million on outreach, from installing tutors at low-income schools to inviting high school teachers to summer calculus seminars. --By Amanda Ripley. Reported by Flora Tartakovsky/Houston and David Nordan/Atlanta