Word: first
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Dates: during 1970-1979
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...hedge their supplies. But when steel imports rose from a 13.4% share of the domestic market in 1975 to 17.7% in 1977, the Carter Administration imposed minimum or "trigger" prices for imports based on a complex formula. Imports have fallen off to 14% in this year's first nine months, and the trigger price was reduced 1% to $347.55 a ton for the third quarter. But with the yen weakening almost 23% against the dollar this year, the Japanese are becoming even more competitive. So American steel men are again unhappy and want the trigger price to be raised...
...company's 102 lenders fear that if guarantees are granted, but Chrysler still goes bankrupt, federal law requires the Treasury to have a first claim on its assets. Probably not enough money could be raised from selling off its plants and other assets to cover both federally guaranteed loans and Chrysler's burdensome debts. So if Chrysler slid into bankruptcy -a real possibility because its survival plan depends not only on federal guarantees but also on many optimistic projections-the Government would grab most or all the assets...
What is deceiving is that this recession may be coming out in spots like a case of measles. The auto industry has been the first big one to feel it; sales are off 10% for the year and more than 16% for the last ten-day selling period. Housing is also hurting, and industry experts are predicting a decline of 20% next year...
...changes that have resulted from the energy windfall are tremendous. Culture has swept the province like a whirlwind. A critic for the Edmonton Journal figured that in twelve months he covered 136 first nights of theater, opera and symphony. Calgary, once just a prairie cow town that was famous for its Calgary Redeye (beer and tomato juice), has become a cosmopolitan community of 550,000. Nearly 60% of the people are not of English-speaking origin, and despite the presence of some 60,000 Americans in the area, the largest ethnic group is German. This is Canada's fastest...
When hand-held computer toys and games first appeared on the market two years ago, retail sales climbed briskly to between $35 million and $40 million. This year's retail sales should be ten times greater (against total toy sales of about $5.5 billion). The great beep forward came when Milton Bradley noticed that adults were buying its innovative Simon -for themselves, and not just in the weeks before Christmas. The highly seasonal nature of toy buying has always been an industry bugaboo; after Christmas, retailers can get stuck with toys that won't sell...