Word: costly
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Dates: during 1980-1989
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Prompted in part by the gyrating market and bleak sales prospects, Chrysler and General Motors said they would accelerate their cost-cutting campaigns. Noting that some people may now decide to put off the purchase of a car, Chrysler Chairman Lee Iacocca announced that his company would speed up previously planned efforts to reduce its payroll. Iacocca intends by the end of the year to trim 3,500 white-collar employees from Chrysler's salaried work force of 38,000. In addition, the company will suspend production at an assembly plant in St. Louis for two weeks this month...
Along Beijing's Xiushui Street, merchants in makeshift metal stands plaintively urge shoppers to buy jade-green grapes, bright red Coca-Cola sportswear and Begonia Flower-brand silk lingerie. A balding trader, waving a fan, hawks Christian Dior-label shirts. They cost 100 yuan ($27) abroad, he confides, but his price is only 25 yuan ($6). A real bargain. The yellow license in his stall identifies him as a ge ti hu (private entrepreneur), who sells his wares on the free market...
...Provost John Deutch said that he made the decision not to buy a supercomputer, which would cost about $10 million spread out over five years, after he received a letter from Acting Secretary of Commerce Bruce Smart that expressed concern over Japanese bidding practices...
...letter, Smart explained that the federal government was concerned that in an effort to penetrate the U.S, supercomputer market, Japanese companies might try to sell the computer below production cost. If that were to occur, American companies, who would not sell at below cost, would not be able to furnish a supercomputer at a competitive price...
Dumping goods at below cost is a violation of the General Agreement on Tariffs and Trade agreed upon by 92 countries, including the United States and Japan, Tucker said...