Word: downward
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Dates: during 1970-1979
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...overstated Soviet spending, thus providing ammunition for advocates of a heftier Pentagon budget. Bowing to this criticism, the CIA revamped its estimating procedures by eliminating controversial items and drawing on improved intelligence-gathering techniques. Although the new estimate of Soviet military outlays, as calculated in dollars, was revised downward slightly, the conclusion remains: since 1972, Soviet military expenditures have surpassed America's-and the gap is widening (see chart). In the past decade Soviet troop levels (excluding border guards and internal security units) have grown by 800,000, to 3.9 million, while U.S. forces, at 2.1 million...
...corporations to adopt a procedure called "replacement-cost accounting." The move represents a long-overdue attempt to clear away the distorting effects of inflation on a company's bottom line. The rule involves some tinkering with numbers that, if integrated into the corporate accounts, could cause a sharp downward jag in an earnings report...
...while, however, Jarman's ap proach seemed to work: in the fiscal year that ended last July, Genesco recorded a $16 million profit, v. a loss of $14.4 million the year before. But as staff morale plummeted and consumer spending flattened out, profits turned downward again and Genesco's creditors became worried about their loans (the company had to refinance $70 million in debt that fell due in November). Stockholders bridled when Jarman announced at the annual meeting in December that Genesco would pay them no dividends before 1978. Common shareholders have received nothing since 1973, and Genesco...
...insisted that he would perform the operation only in a hospital. Hughes relented?but he demanded to leave the clinic before the fracture had properly mended. Result: he refused even to try to walk again. From then on, his life, which had seemed on the upturn, took a tragic downward plunge. He was taken to the Xanadu Princess Hotel in Freeport, where the Bahamians this time were happy to welcome him. Then, after two years, he was moved again?this time to the pyramidal Princess Hotel in Acapulco...
Consumer groups, aghast at the size of the boost (it could have amounted to $1.5 billion), quickly filed court suits to upset this price schedule. The FPC then revised prices downward, partly by cutting the $1.01 figure to 93? and partly by reclassifying as "old" some gas first considered "new." So now the producers have gone to court in the hope of getting gas prices deregulated completely...