Word: auto
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...become a red-hot topic in recent weeks, in part because so many indicators have been flashing alarms. U.S. industry is operating at 82.5% capacity, the lowest in two years. Construction spending is at the slowest pace since the 1981-82 recession, corporate profits are declining, and the U.S. auto industry has already entered a recession...
...well. Home-equity loans and lines of credit, which are basically latter-day relatives of the second mortgages that led to so many foreclosures in the 1930s, rose from $20 billion in 1985 to $75 billion in 1988. At the same time, creditors lengthened maturities. The average auto loan is now payable over 48 months, up from 36 in 1982. Says James Grant, editor of Grant's Interest Rate Observer: "The 1980s were to debt what the 1960s were...
...eloquent memorial to the courage of a population. In India, where Reg Greer visited briefly, she gives a beguiling description of the pastimes of women in a comfortable family. One lady chauffeured her to Devlali to investigate local records sources, though she was innocent of auto gears and seemed to know only how the horn worked...
...telling American workers that the American automobile industry has got to give way to other things. Auto workers would never go along with such a move. For American workers, losing a job is a recipe for financial ruin--inadequate unemployment compensation, no re-training and lost health insurance. Thus, they resist adjustment, innovation and dynamism...
...billion that Marcos is said to have looted from the treasury, the commission has recovered nearly $1 billion so far but has been accused of abusing its powers. In one case, for example, Ricardo ("Baby") Lopa, an Aquino brother-in-law who controlled a profitable Nissan auto- assembly plant and 38 other companies before they were seized by the Marcos regime in the early 1970s, was allowed to buy the firms back for only $227,000 within days after Aquino became President. A public outcry forced the commission to re-examine the deal with Lopa, who died of cancer last...