Word: bonanza
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Dates: during 1980-1989
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...drop would be precisely the reverse - an enormous shot in the arm." Agrees Walter Heller, chief economic ad viser to President Kennedy: "The eco nomic tonic would be worldwide. If best comes to best, and we see $20 to $25 oil again, we could use part of the economic bonanza to tide over the banks and the Mexicos until economies recover...
Hollywood executives are now scurrying around, looking for clues so they can make 1983 into a Bonanza II. But the truth is that there probably are no explanations. It was just one of those years. "It's simple," says Barry Diller, chairman of Paramount Pictures. "Are there movies people are interested in seeing or aren't there? The business is not affected by recession, depression or inflation. It is just affected by movies. In 1982 there were more movies people wanted to see than in other years...
...Reddest Face: That belonging to Ray Stark, who produced, and overproduced, the movie version of Annie, which was supposed to be a box-office bonanza but barely covered its $52 million production and marketing costs...
...bare-bones inauguration was appropriate for a country facing severe economic problems. Hoping to cash in on Mexico's oil bonanza, outgoing President Jose Lopez Portillo had embarked on a costly development program. But when oil prices dropped and interest rates shot up, Mexicans rushed to trade their pesos for more stable dollars, forcing a devaluation. In the ceremony at the Congress of the Union hall last week, Lopez Portillo bequeathed to his successor the green, white and red sash that is the emblem of office. He also left a foreign debt of $80 billion and not enough money...
...real bonanza, though, is in spare parts. An Air Force audit revealed that Pratt and Whitney has quietly increased the price of one part, a turbine air seal, from $16 to more than $3000, supposedly to correct an accounting error in the original price--the audit uncovered scores of such "corrections." Overall, the defense industry has, for the past two years, sustained an inflation rate of 20 percent--more than double the national average...