Word: glutting
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...came up demonstrably short at Sunbeam. The appliance maker lost $44.6 million in the first quarter, and may post another loss this quarter. Analysts who thought the company would earn $2 a share in 1999 put the figure today just north of $1. Sunbeam suffers from an inventory glut that will take months to assess and longer to fix. It appears Dunlap had been "stuffing the channel," persuading retailers through discounts to buy more gas grills than they would normally need. This practice helped swell Sunbeam earnings in 1997 but led to this year's crash. Even Dunlap's huge...
...board moved swiftly. Within days it discovered that business was much worse than Dunlap had let on just weeks before. What he had termed an aberration--the inventory glut--was in fact a continuing problem. Dunlap was fired June...
...asteroid disaster movie ever gets made again after this summer's glut, here's a good opening scene: Panicked scientist testifies before congressional committee. A mountain-sized space rock, he warns, "could hit tomorrow and we wouldn't even know it was coming." Pan across committee members wearing concerned expressions. Cut to spinning newspapers with alarmist headlines. Melt to crowds of city dwellers gazing anxiously at the heavens...
With oil prices in the doldrums and a 2 million-barrel glut in the supply, producers are forced to suppress their instinct to make up the revenue shortfall by pumping a few extra barrels -- production cuts are the only way to restore the good times...
Still, in the late 1960s, as a glut of federal money began pouring in to build low-income housing, the district dealt with the tensions of the civil rights era better than most others...