Word: cuts
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Dates: during 1980-1989
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Once it was hailed as the ultimate manufacturing industry, an enterprise that would cut American labor costs, boost productivity and rack up as much as $4 billion in sales by 1990. Blue-chip giants stampeded to buy into the action; bankers panted to finance the heralded expansion. Optimism was seemingly unbounded for the U.S. robotics industry, which produced semi-intelligent machines that were expected to help American businesses compete with low-wage foreign rivals over the next two decades and to improve greatly the quality of American industrial production...
...build plastic-bodied cars, it canceled about $100 million in orders for robots and support equipment. That was bad news for GMF Robotics of Troy, Mich., the nation's biggest robotmaker (1986 sales: $186 million). GMF, a joint venture of GM and Fanuc, Japan's largest robotics firm, has cut its work force to 400 people, 60% of what it was two years...
...expected to perk up again by the end of 1988, partly because of increases in U.S. competitiveness caused by the falling dollar. Struggling American manufacturers have begun to adopt the electronic robot technologies of the Japanese and, like U.S. automakers, are moving their own assembly plants overseas to help cut costs. Above all, U.S. robotmakers have adjusted their own expectations of how the industry will perform in the future. "We're in a solid business with solid growth," says Bruce Haupt, a marketing manager in the division that oversees robotmaking at IBM. "Our early expectations were out of line...
...clips his words in the same brusque spirit his barber clips his crew cut. He wears a suit he must have found at a time warp's going-out-of-business sale, smokes unfiltered cigarettes and eats chili dogs as if there were no radicchio. He believes in virginity, the 55-m.p.h. speed limit and that old- time religion. Welcome back, Sergeant Joe Friday...
...bombshell caught nearly everyone by surprise. The government- controlle d television network, which was broadcasting a cooking show at the time, hastily cut away to air the last part of the 22-minute speech. Journalists who called Chun's office seeking reaction found they had to fill in the presidential press secretary about what had just happened before the spokesman could respond. Newspapers rushed extra editions into print...