Word: grim
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Dates: during 1970-1979
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...meeting of TIME's Board of Economists has surveyed so bleak an economic horizon as that confronting our experts last week. While the economists jetted to Manhattan from St. Louis, Chicago, Minneapolis and Washington, President Ford's budget and the grim economic message accompanying it were being released to Congress and the press. Ford's predictions of continuing high inflation, falling production and three years of at least 7% unemployment amply fulfilled Board members' December forecast of the worst slump since the 1940s. Not surprisingly, the Administration's economy and energy policies stirred a sharp...
Somehow these young men, almost boyish, keep coming to Washington from far out there in the land, full of hope and energy, rekindling, no matter how grim the times, the legend of American opportunity for those of ability and dedication...
Against this grim background, the auto industry is fighting back. So far, the results of the rebates have been encouraging. Before they went into effect in mid-January, auto sales were 15% below the miserable levels of a year ago, when the energy crisis clobbered car sales. The rebates were largely responsible for the boost in sales from a dismal 93,235 cars in the first ten days of January to 133,000 cars during the second ten days of the month. Dealers claim that volume has climbed substantially since then. Tom Shanley, an American Motors executive responsible for sales...
...among them: Hardy, Dylan Thomas, Frost, Yeats, Brecht, Kierkegaard, Goethe and Horace). Plato, however, rates a putdown ("I can't imagine anything/ that I would less like to be/ than a disincarnate Spirit"). So do the "nimble technicians" of Detroit ("Dark was the day when Diesel/ conceived his grim engine"), partly because they cannot be bothered to build "what sanity knows we need,/ an odorless and noiseless/ staid little electric brougham...
...ring up an annual profit. Indeed, until recently it had been pursuing a headlong expansion program. But last week Chairman James G. Kendrick confirmed rumors that had been sweeping the industry for months: Grant's profits and progress had both come to a thudding halt. After a grim meeting with Grant's bankers at the chain's new Manhattan headquarters, Kendrick said that the company would report a loss of $175 million for the past year. In a massive retrenchment program, it would also shut down at least 126 of its 1,182 stores, and complete...