Word: glut
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Dates: during 1970-1979
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...glut arise? Prices were as high as $1 a dozen retail in 1969 and early 1970, causing many farmers to overorder new laying hens. Since high prices meant high profits, many outside investors-looking for the tax advantages that farming can offer-put their money into eggs. Early last year a new vaccine was swiftly eliminating Mareks disease, an affliction that used to wipe out 15% to 20% of the nation's hens every year. Besides, per capita egg consumption has remained virtually static at little more than 300 per person a year...
...government finally seems to be moving decisively against the import glut. The piaster, long ridiculously overvalued at a rate of 118 to the dollar, was pegged at a more realistic 275 last year; last week it was slashed further. For most transactions, the piaster would be pegged at 410 to the dollar -close to the black-market rate. Simultaneously, a system of varying exchange rates and customshouse taxes was imposed to make necessities like most foods and plant equipment cheaper to import while raising the cost of luxury items like caviar, Hondas and cars...
Cutbacks have pushed last year's teacher surplus into an outright glut. By N.E.A. estimates, 104,000 newly graduated teachers have been unable to find permanent classroom jobs, 25,000 more than last year. One California district received so many inquiries from job seekers that it has installed a phone recording to tell them it has no openings...
Bethel also said he thought a Teacher Exchange similar to the Job Exchange might help soften effects of the "Ph. D. glut" for Harvard graduates...
...Glut of Longhairs. Ghostwriting on a modest scale has been a campus ploy for many years. But turning the practice into big business has taken men of vision like Ward Warren, 22, a senior at Babson College near Boston. Last fall Warren sank $25,000-earned in the delicatessen and the snack bar he owns-into Termpapers Unlimited. He now says that he is close to breaking even. "The secret of my success," he says earnestly, "is that my employees really believe in what they're doing. Also, there are a lot of brilliant, long-haired people...