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...million, then rose another $2 billion (to a seasonally adjusted daily average of $331.6 billion). In an effort to ward off inflationary pressures, the Federal Reserve will have to try to hold down the growth, and that will push interest rates up further-how far and fast is unclear...

Author: /time Magazine | Title: Business: Recovery on a Tightrope | 10/3/1977 | See Source »

When Concorde will actually start landing in other U.S. cities, and which ones, is still unclear. Last week's decision, coming on the last day of the 16-month test period, formally only extended it. Flights to cities other than Washington and New York cannot begin until a final ruling is issued. That will not be until early 1978, and "it may take longer than that," said Adams. Other airports that could become Concordeports are Anchorage, Boston, Chicago, Dallas-Fort Worth, Honolulu, Houston, Los Angeles, Miami, Philadelphia, San Francisco and Seattle-Tacoma. Any of those can ban the Concorde...

Author: /time Magazine | Title: Business: Concorde: Yes | 10/3/1977 | See Source »

...Danforth); six seemed to oppose him (Democrat Abraham Ribicoff and Republicans Charles Percy, Jacob Javits, Charles Mathias, William Roth and H. John Heinz). Four Senators appeared undecided (Democrats Ed Muskie and John McClellan were absent from the hearing, Lee Metcalf said little and Republican Ted Stevens' sentiments were unclear). Among Lance's critics, Javits turned out to be one of the most effective, slashing away at the Budget Director's ethics. The most persistent defender of Lance was Nunn, who deftly summed up the case against his fellow Georgian and found it woefully weak...

Author: /time Magazine | Title: The Nation: Lance Comes Out Swinging | 9/26/1977 | See Source »

...owned 1% of the shares in a company that paid $100,000 in taxes on its profits would subtract $1,000 from the tax that he otherwise would owe on his dividends. Yet there are many questions, and how this change would work out in practice is most unclear...

Author: /time Magazine | Title: Business: Tax Reform Takes Shape | 9/26/1977 | See Source »

...Calhoun bank who pleaded guilty last year to having embezzled nearly $1 million from the bank. Now serving an eight-year prison sentence, Campbell has told investigators that "he [Lance] was part of it," meaning the embezzlement. Just how seriously the Senators take Campbell's charge is unclear. Campbell has refused to supply an affidavit, but has asked to appear before the committee. He has also promised to supply documentation of his charges?but by week's end had not done...

Author: /time Magazine | Title: Lance: Going, Going... | 9/19/1977 | See Source »

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