Word: backlog
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Loan losses unquestionably will continue heavy through 1976 too, but the experts are divided over whether they will be higher than in 1975. Despite the write-offs so far, banks have a huge backlog of dubious loans still carried on their books. The biggest losses are coming on loans to real estate investment trusts-companies that sprang up in the 1960s to get in on the building boom by financing builders of shopping centers, apartments and other commercial projects. Many banks, including Chase, organized their own REITS-a move that now seems to have been most unwise. As demand...
...sharp cutbacks in corporate capital spending plans. But not Fluor Corp. Riding the crest of a mighty global wave of spending for energy projects-pipelines, drilling rigs, refineries-the Los Angeles-based engineering firm has won more business than almost any other heavy construction firm. It has a current backlog of projects worth an incredible $10 billion...
...ahead of the general pace of recovery despite the less than robust condition of two prime textile markets, housing and autos. Unemployment, which reached an estimated peak of 20% of the mill work force last January, has been cut to 8% -below the national average of 8.6%. With a backlog of new orders piling up, Horace C. Jones, chairman of Burlington Industries, the biggest producer, pre dicts that the surge will continue into 1976; most executives and analysts agree...
...customs checkpoints and valuable military supplies are rusting away out on the sand or in warehouses while authorities try to process them. "It resembles a chaotic flea market," says one U.S. Pentagon officer. An aide to Defense Secretary James Schlesinger has been sent to Tehran to help unclog the backlog in order to make way for still more supplies, including the first of 80 F-14 Tomcats, that...
...special wooden carts for each Justice-stacked high with papers from the backlog of nearly 1,000 cases that accumulated during the three-month summer recess-were in place in the Supreme Court's conference room. One week earlier than ever before in the court's history, the Justices were on hand to get a head start on the work of the new term. But as the nine men gathered in the room last week, the most troubling task of judging they faced was not to be found in the dry briefs or research papers. How were they...