Word: crunchingly
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...newscasts have gone back to their old half-hour formats. America Tonight, CBS's experimental late-night entry, which was kept alive when war broke out in January, will be pulled from the schedule at the end of the month. And network executives, faced with a war-induced budget crunch, are once again embarking on a painfully familiar task: looking for ways to cut costs...
...government, meanwhile, faces a budget crunch that makes it less willing than ever to help universities expand or update their scientific infrastructure. "The National Science Foundation and others are saying, 'If we've got to set priorities, we'd better do the substance,' " says Joseph Gilmour, vice president for strategic planning at Georgia Tech...
...worries that formerly reliable customers may be unable to reply loans are forcing even the healthiest of banks to revise their management strategies. Cambridgeport Bank started building up a huge reserve against possible future loan losses when the Massachusetts credit crunch began, Keegan said...
...banker can compete with an institution that has no bad loans and that has grown with the help of government underwriting of its takeovers. The small guy is going to go under. We have in a sense nationalized the system. And the diminished bank competition is aggravating the credit crunch...
...industry's problems have affected consumers and companies by discouraging banks from lending to any but their most creditworthy customers. The resulting credit crunch helped bring on the recession and drive up unemployment, which the government said last week reached 6.1% in December, the highest level in more than three years. Moreover, big banks have kept lending rates high to bolster sagging profits, which fell to $3.8 billion in the third quarter of 1990, down from $5.3 billion in the April-June period. Most major banks waited until last week to lower their prime rate a half- point...