Word: cuts
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Dates: during 1980-1989
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...divestitures have so far caused only scattered layoffs of South African workers. Nonetheless, black joblessness, estimated at 3 million, has increased by up to 300,000 annually over the past three years because of the weak economy. Black trade unionists claim that the wages of black workers have been cut once their American employers have departed. Many black leaders fear far more serious consequences. Says Mangosuthu Buthelezi, Chief Minister of the KwaZulu homeland and a longtime critic of divestiture: "If the South African economy is destroyed along with apartheid, we will have to build on the quicksands of deepening poverty...
...would be insufficient, Heller developed the idea of measuring the economy's performance not against past figures but against what it might reach while growing at full potential. That idea has long since become axiomatic for policymakers, but in 1961 it seemed radical. Heller believed such growth required a cut in the then towering income tax rates that in his view were strangling expansion -- and never mind that the budget was already in deficit. It took more than a year for Heller to convince Kennedy and two more years before a skeptical Congress came around. But once the tax cut...
Anticipating higher prices abroad, many U.S. travelers are planning somewhat less elaborate excursions this year and watching costs carefully. Says John Ueberroth, president of Minneapolis-based Carlson Travel Group: "Some cut a couple of days off the trip or look for special deals to save money." Catering to the bargain hunters, the New York City-based Inter- Continental hotel chain plans to slash rates by up to 60% next week at 30 of its hotels in 23 European cities and guarantee the prices in dollars. While they are in Europe, Americans seem to be paying closer attention than usual...
...prices can also be found in the bustling free-for-all of airline discounters. Explains Riaz Dooley, who runs a string of London travel agencies that specialize in cut-rate fares: "An airline ticket is the most perishable commodity in the world. Once the plane takes off, that empty seat becomes dead loss" to the carrier. For that reason, many airlines sell surplus tickets at as little as half price to middlemen known as "consolidators," who typically agree to buy blocks of seats during the slow winter months -- when seats on certain routes go begging -- in exchange for a supply...
After a lively period of experimentation when MTV was young, record companies have grown more cautious. Some, like CBS Records, have cut back on the number of videos they produce. Others have put a tighter rein on budgets, which average between $50,000 and $100,000 a clip. For all their artistic aspirations, rock videos are intended mainly as promotional tools; by that measure, a low-budget clip of the band in concert may do the job just as well as a more elaborate "concept" video. Says Video Director Wayne Isham: "What's good these days is what sells product...