Word: glutting
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Stoking the smokestack revival even further, in 1984 the Reagan Administration negotiated voluntary restraint agreements, which limited imports to about 20% of the 100 million tons sold annually in the U.S. The justification was that the worldwide steel glut had forced many foreign governments to subsidize their mills, allowing them to charge artificially low prices in the U.S. In exchange for the VRAs, U.S. steelmakers agreed not to bring trade suits against overseas competitors and promised to plow excess cash into modernizing...
...COVER: A glut of lethal weapons. Are too many Americans now armed and dangerous...
...leading gulf producers -- Saudi Arabia, Kuwait and the United Arab Emirates -- have opened their spigots, increasing OPEC's total output nearly 10%, to 21 million bbl. a day. Because worldwide demand for OPEC's crude amounts to only about 19 million bbl., the overflow has created a price-dampening glut. West Texas Intermediate, the benchmark U.S. crude, fell earlier this month to $12.60 per bbl., a drop of nearly $3 from its level in August and more than $7 from a year ago. The price edged upward last week, closing at $14.92 per bbl., reflecting expectations among oil traders that...
...contact the Harvard Student Employment Office. You may find yourself modeling clothes for Calvin Klein at $250 a day. But even Harvard students who don't meet these qualifications are finding hundreds of job opportunities, as Cambridge suffers from what observers call the biggest job glut in years...
...autumn may not be a "total disaster" for audiences. Olympics coverage and baseball play-offs typically overshadow even full-fledged competition, so rival network executives may be just as happy not to have to expose fragile newcomers until later and viewers may not mind what looks to be a glut of reruns. The Olympics will enable NBC to showcase commercials for its roster of upcoming series. ABC has assigned that promotional role, among others, to the first 18 hours of War and Remembrance, a $105 million adaptation of Herman Wouk's World War II novel. Originally scheduled for February...