Word: boom
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Dates: during 1980-1989
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...record industry has gone from boom to blah. In 1978, estimated retail sales reached $4.13 billion with hit albums like Grease leading the way. Then the tune changed. Rising prices, fewer hits, disco, limited radio-station play, home taping, competition from video games-all were blamed for driving down music sales. Last year, sales totaled $3.59 billion, a four-year decline...
Despite the record-industry turnaround, no one expects an early return to the boom of five years ago. Says Al Teller, general manager of Columbia Records: "We're a mature industry. The huge growth of the '60s and '70s is not on the horizon." One reason is that baby boomers, who bought many more records than their parents, are now getting into their 30s and buying fewer records. But music executives do not want to think about those sour trends. For now, they want to sit back and listen to the sweet music those megahits are making...
...students at the University of California at Berkeley are cashing in on the computer boom...
...revamped economic policy, which under Allende had led to 600% inflation and riots over food shortages. He sold 400 ailing state-owned companies, ended price controls and most state subsidies, and encouraged foreign trade by slashing import tariffs from almost 100% to an average of 10%. The resulting economic boom encouraged most Chileans to overlook Pinochet's repressive campaigns against leftists, in which as many as 10,000 were killed and up to 150,000 were jailed. In 1980 Chilean voters approved by 67% a new constitution that allowed Pinochet to stay in power until 1989, and quite possibly...
Ironically, the French government itself triggered the slot-machine boom and is among its biggest beneficiaries. French slots had long been outlawed and confined to the back rooms of seedy bars until December 1981, when the Mitterrand Administration tacitly legalized them by placing a $714 annual tax on each machine. The number of slots quickly exploded from 10,000 to 30,000 by the end of last year. An additional 25,000 were installed in the first three months of 1983 alone. Paris' estimated tax take from the machines is now running at an annual rate of some...