Word: eickhoff
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Dates: during 1990-1999
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Even if they are not planning to sell, homeowners feel poorer when values drop. "The price of your house was your standard of value in the 1970s," says Kathryn Eickhoff, president of her own economics-research firm in New York. "You couldn't make money in the stock market, but you knew your house would go up in value. But now that confidence is being tested, and people feel vulnerable...
...year-long Reagan recovery limps through 1990, credit contraction and stagflation will leave many casualties. The most exposed sector is corporate America, particularly its most leveraged members. The Bush budget assumes that pretax corporate profits this year will rise almost 20%, to $360 billion. But forecasters like M. Kathryn Eickhoff, a former colleague of Greenspan's, think profits will stagnate at best. Says she: "These conditions will mean a real squeeze on the restructuring plans of highly leveraged companies." The net effect: many highly leveraged firms will find it difficult to make their interest payments...