Word: falloff
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...banks were closed; when they reopened, $35 million was withdrawn almost immediately. Virtually none of it has been redeposited in Lebanese banks. Since Intra held 38% of the country's deposits, its continued shutdown has meant a disabling shortage of cash. Lebanese restaurants report up to a 50% falloff in business; in the gambling casinos, the dealers are playing blackjack with one another. Worse, merchants have now lost their credit ratings, must do business on a full cash basis before goods will be delivered. Since they do not have much cash, there is not much commerce...
Lawrence S. Robertson Jr. '65, head of the charter flights agency, said that "many factors" contributed to the falloff. He said that competition within the chartering industry is getting "much more fierce," but would not go into the other factors "for various reasons...
...Board, there has been a big falloff in short selling; in January, short sales hit a four-month low of 5,736,831. Short sellers borrow stock to sell in the expectation that prices will have dropped when it comes time to buy the shares to pay back the loan. To many, the falloff in short positions indicates that the professionals are currently not willing to bet that the market is going down...
...last week alone the index lost nearly 15 points, closing at 701.57. While the week's decline stemmed largely from the U.N. crisis and the instinctive tendency of amateurs (but not professionals) to sell in time of danger, there were deeper reasons behind the longer-range falloff. Most Wall Street analysts agreed that investors had already discounted the present degree of economic recovery, were now waiting for another broad-based and dramatic economic surge before buying heavily again...
Much of the European auto industry is only now beginning to shake off the shock of the sudden falloff. British auto factories, after cutting back production and putting many workers on short time, are now approaching normal production again. Despite a 37% drop in sales to the U.S. last year, British automakers hope to regain a fatter share of the market. Says Rootes Motors, Inc.'s Managing Director John T. Panks: "It's nothing but bloody nonsense that the imported car is about to vanish from the U.S. market." To prove his case, Rootes sent to the show...