Word: downturn
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...word: wheels. Less than 4% of its 1983 sales of $74.6 billion came from other businesses. A major drawback to such single-mindedness is that GM has few other earnings sources to keep the company profitable during sales slumps like the one in 1980-82. Now wiser after that downturn and flush with some $9 billion in cash, GM managers have been cruising industrial parks looking for takeover candidates...
...number of serious crimes reported to the police last year, according to the bureau's Uniform Crime Report, dipped 7%. The downturn comes after a 3% drop in 1982 and no increase in 1981. The 1983 decrease was across the board; violent crimes (murder, rape, robbery and aggravated assault) were off 5%, while property crimes fell 7%. The biggest declines: burglary (-10%) and arson (-13%). The trend was consistent throughout the country, affecting communities of all sizes...
...delivery next year of at least 67 new McDonnell Douglas twin-jet airliners. The 142-passenger DC-9 Super 80s are part of a major American expansion drive. The carrier also plans an aggressive program to cut costs and keep ticket prices low. Renewed fare wars and an economic downturn could hurt Braniff, but owning an airline has long been one of Pritzker's ambitions and he intends to stick by the venture. Says he: "I've always flirted with airplanes. It's an exciting thing...
...take much to squeeze out private spending and drive the U.S. back into a recession in 1985." A survey released last week by the National Association of Business Economists found that 69% of the 237 members polled were worried that the deficits could bring on a downturn next year...
...give up the progress that has been made against rising prices. Says one governor: "The Fed is going to stick it out." But another governor thinks that the board would have to back down in a crunch. Says he: "If a crisis develops that would cause a serious downturn in the economy, we should do what is necessary to remedy this. But you have to realize that the cost of such action can be renewed inflation." A jump in food costs brought on by bad weather caused the consumer price index to jump .6% in January, its steepest gain...