Word: downturning
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Dates: during 1980-1989
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...million. Similarly, U.S. Steel fought off Mobil to rescue Marathon Oil and is now struggling with the $6.7 billion price of its chivalry. Its steel business is down sharply, and while Marathon's earnings were at a record high last year, they are currently threatened by the downturn in oil prices. To help compensate, Big Steel has put its Pittsburgh headquarters building up for sale...
Increased deficits are also a concern to both the White House and Congress, but each has separate solutions. Increased spending on unemployment benefits and the recent downturn of inflation have caused the deficit figures to be larger than earlier projections for 1984 indicated. To combat this problem the Administration has included in the budget package a stand-by tax proposal which calls for a five percent tax surcharge as well as a barrel increase in oil taxes to go into effect in 1986 or 1988 if the expected economic recovery does not materialize. When asked why he does not want...
...Some experts believe that the price will eventually drop below this level, but even if $30 became the new OPEC price, it would represent a 12% decline. Any reduction, in fact, would be like a huge tax cut for the world economy, which could help end its worst downturn since the 1930s...
Most American workers consider competition from Japanese imports at east partly responsible for pushing U.S. industry into its worst downturn since the Great Depression. But last week a group of grateful blue-collar workers in LaVergne, Tenn., a tiny factory town outside Nashville, welcomed the Japanese as saviors. Bridgestone Tire Co. of Japan bought LaVergne's truck-tire plant from Firestone Tire & Rubber Co. for $52 million. In a ceremony to mark the occasion, Satoshi Kishimoto, a Bridgestone executive who will be the plant's general manager, greeted 200 of his new employees with a cheery...
...rival network executives as the best on the beat, specializes in giving viewers a primer on how things work. In one stock market story, for example, he included a step-by-step description of how a share of stock is bought and sold; in a report on the downturn in retail sales, he ticked off the roles of Government, business, foreign buyers and consumers in reviving the economy. His colleagues at ABC include Connor, a former Wall Street Journal reporter, and Stephen Aug, a former Washington Star business editor who delivers morning news briefs at express-train speed. Admits...