Word: downdrafter
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...away from a return trip to Chapter 11 bankruptcy protection, from which it had emerged four years ago. Instead Continental may try to raise cash by selling off some of its valuable routes and other assets. Like many of its competitors, Continental has been caught in a powerful economic downdraft at a time when the airline was expanding and ill-prepared for trouble...
Suddenly Japan is caught in a powerful downdraft of pessimism. A vexing combination of tightening financial conditions, trade tension with the U.S. and political weakness at the top has sent Tokyo's financial markets into a funk. The slide is threatening to choke the country's economic growth and sap the ebullient confidence that has filled Japanese investors and businessmen in recent years. "The pendulum has once again swung in Japan," says Richard Koo, a senior economist at the Nomura Research Institute. "It's now over to the doom-and-gloom side, when objectively speaking, Japanese companies remain the strongest...
...also been looking for better ways to warn planes of violent wind shear, like the downdraft that caused a Delta L-1011 jet to crash near Dallas last month, killing 135. The FAA is proceeding with research into radar methods that can give better indications of wind shear. And in Tokyo, FAA officials, along with other U.S. experts, have gathered to assist in the investigation of the Aug. 12 crash of Japan Air Lines Flight 123, a Boeing 747 similar to many flown by U.S. carriers. A 60-page preliminary report released last week by Japan's Transport Ministry provided...
...course, not all the plungers have emerged winners. Some entrepreneurs saw the sunny prospects of their companies turn stormy in a matter of weeks, and their paper profits vanished as quickly. Other investors got caught in a temporary market downdraft during the second half of 1983. Irrational enthusiasm pushed up the price of some high-technology stocks to 80 or more times their annual earnings, compared with about 16 times earnings for proven blue-chip growth companies like IBM. When reality caught up with greed, a number of fast-rising new issues fell to earth, and the profits of many...
Across the U.S., the Arctic downdraft froze bodies of water large and small, sometimes with dire results. The Snake River in Idaho was stopped up by a ten-mile-long ice jam, threatening floods, and Louisiana's Red River froze up for the first time this century. Coast Guard cutters freed a dozen Lake Erie freighters stuck in 12-ft.-high windrows of ice, and on the frozen Mississippi River near Keokuk, Iowa, 30 towboats pushing about 430 grain barges are trapped until spring. In the shallow Gulf of Mexico bays from Galveston to Port Isabel, Texas, tens...