Word: everly
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Dates: during 1970-1979
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...been growing steadily since 1974. Last November's pilgrimage was the biggest in history. Nearly 2 million people converged on the arid Plain of Arafat near Mecca to live in tents and perform the arduous five-to seven-day ritual that has remained unchanged for 14 centuries. More than ever before, the pilgrimage was a spiritual kaleidoscope of races and faces and languages from 70 countries, from the wealthiest of oil sheiks to the poorest of the poor...
...policy also promises much political pain and peril for Carter. The essence of his program is to strip away the controls that have held the cost of domestically produced crude oil at artificially low levels ever since the postembargo days of 1974. Next month, using Executive authority, he will order a gradual phase-out of the controls so that they will be entirely eliminated by Oct. 1, 1981, when by law they would have expired anyway...
...this could presage the mild recession that is widely expected later this year. If the guidelines fail before the decline in production begins, the only practical, short-term alternative would be an ever tougher monetary policy and higher interest rates. Money supply is already relatively tight, and interest rates are expected to go on rising into June. A continuation of this trend could lead to a recession deeper and more painful than anyone wants...
...order, for ten short-range A310s (with options for ten more), is the largest it has ever made. Lufthansa's purchase of 25 of the planes (and options for an additional 25) is the biggest order the decade-old consortium has landed. Equally significant, the sale marks the end of Lufthansa's overwhehning dependence on Boeing. Said Lufthansa Chairman Herbert Culmann: "We have no interest in turning a giant into a colossus...
...sales declines somewhat to 75%." Despite the burst of business for Airbus, Boeing has received 229 orders and options for the 767 and the 757. Moreover, before it made its Airbus buy, Lufthansa placed a $1.2 billion order for 32 Boeing 737s and 24 options, the largest plane deal ever made by a European carrier. Since Airbuses are fitted with U.S.-made engines and electronic gadgetry, one out of every three dollars spent on the European planes ends up in America...