Word: glutting
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...give every family two tons of grain and 40 pounds of dairy products. With countless homeless citizens, contractors level old apartment buildings for office and parking spaces. With rural and inner urban regions completely void of health care facilities, a national medical association projected a 13 percent doctor glut for the 1990s...
...Glut Theory...
Alas, by 1983, Nigeria was suffering from the worldwide oil glut and the resulting drop in prices. Its oil revenues had fallen to about $10 billion a year, while its foreign debt rose to an estimated $15 billion. After his reelection, Shagari seemed determined to deal more forcefully with corruption and the growing economic problems than he had before. He created a new ministry charged with rooting out corrupt officials. Just two days before the coup, he delivered an austerity budget aimed at reducing the government's capital spending by 30% and imports by 40%. The belt-tightening was greeted...
...particularly knowledgeable about petroleum stocks. In 1981, he had enough savvy to sell off energy shares from his portfolio before the oil glut drove down their value. Day, however, still has a huge personal stake in the industry. Through his mother, Willametta Keck Day, he is one of the heirs to the Keck family's holdings in Houston's Superior Oil, a 25% share worth about $5 billion...
...into winemaking at a time when large corporations like Atlanta's Coca-Cola are getting out of the business seems at first surprising. But Villa Banfi's products may be the right wines at the right time. American demand for Italian wines is strong despite a worldwide glut that has hurt growers in California, West Germany and France. In 1982, Italian labels accounted for 59% of all table wine imported into...