Word: discounts
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Dates: during 1980-1989
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...banking system itself seemed to be reticent about the latest rate cut. It came well after the Federal Reserve Board on Aug. 20 lowered the discount rate it charges member banks from 6% to 5.5%. Normally, major banks lower the prime within 24 hours or so after such a move. This time, five days elapsed before San Francisco-based Wells Fargo became the first institution to react, though competitors thereafter quickly fell in line. Industry experts suggest that one reason for the sluggishness was that many major banks, facing massive liabilities in Latin America and elsewhere, are trying to boost...
...Denver crisis illustrated some of the snarls that have entangled parts of the airline industry -- and especially People Express -- in the stiff competitive environment that People did so much to create. The revolutionary . discount airline could no longer afford to operate Frontier, which it had bought only last November, since the Denver-based subsidiary was dropping an estimated $10 million monthly. Even after the shutdown, People was losing about $1 million a day as a result of its ownership of Frontier, and in the view of many analysts, is being kept alive largely on the $46.7 million from United. Chicago...
When the eyes of the world aren't upon them, however, Harvard administrators are too willing to protect this place from the outside world and to discount the judgments of students and alums...
...visible anywhere in the economy. Revised figures show that total output of goods and services rose a mere .6% in the ; second quarter, the slowest pace since the end of the 1982 recession. In an effort to give a boost to the economy, the Federal Reserve cut the discount rate at which it lends to member banks a half-point, to 5 1/2%, its lowest level in nine years. That should encourage further interest-rate cuts by the banks. The Reagan Administration and many private economists still expect a second-half pickup. Right now, though, the slowdown has presented policymakers...
...sell his vision of the lush life, Lauren is building an ever larger retail network. The designer now sells his products in 48 franchised Polo shops, 132 department store boutiques and 16 discount outlets. In April he opened what his company calls the world's largest one-designer store, Polo/ Ralph Lauren, in a 20,000-sq.-ft. renovated mansion on Manhattan's tony Madison Avenue shopping strip. The Polo palace, which is the first retail store Lauren has owned outright, represents a gamble that one designer can produce enough strong-selling goods to support a department store-size emporium...