Word: jolt
(lookup in dictionary)
(lookup stats)
Dates: during 1980-1989
Sort By: most recent first
(reverse)
Everywhere one looked at the National Cable Television Association (N.C.T.A.) convention in Las Vegas last May, people were buoyant about their prospects in a business whose time apparently had come. Last week, however, cable's optimists got a jolt: communications giant CBS (1981 revenues: $4.1 billion) announced that it would shut down its critically praised but loss-plagued cultural service within 90 days. According to estimates by industry sources, the service had lost $30 million in less than a year. A dispirited Thomas F. Leahy, executive vice president of the CBS Broadcast Group, blamed the recession, and added...
Thus it was a jolt last week when AEG-Telefunken declared that it was insolvent and could not pay its bills. The unpaid debts amounted to $3.5 billion. In addition to being the largest corporate casualty in West Germany since 1945, the collapse of AEG-Telefunken symbolized the problems now facing the country that first gave birth to economic miracles. As the Frankfurter Allgemeine Zeitung candidly observed in a front-page obituary for the company: "This marks the end of all illusions...
...amendment that would require a balanced federal budget. "I don't feel self-conscious at all," Reagan tells a press conference. He argues the (at least partial) truths that he inherited ever growing commitments from Presidents before him and that a big tax cut might be a profitable jolt for the economy. Congress performs its own impressive feats of dissociation. The polls consistently show that between 70% and 75% of Americans favor a balanced-budget amendment. It is an election year. A majority in the Senate, possibly to be echoed in the House, proceeds along the lines...
...State Department also claimed that Alexander Haig's signature was forged on a letter of June 1979 to NATO Secretary-General Joseph Luns, which included a discussion of nuclear first-strike strategy and urged that an "action of a sensitive nature" be undertaken to "jolt the fainthearted in Europe." The letter contained a telltale error: it addressed Luns as "Dear Joseph," while Haig, a former NATO commander, would have written "Dear...
...G.O.P. Leader Robert Michel on Capitol Hill. "We pulled it off!" exulted Michel. "That's terrific," replied the President. Said Michel afterward: "At least we have really made a start." Indeed, simply by showing that it could agree in principle on a spending plan, Congress gave a jolt of confidence to the jittery U.S. economy. The Dow Jones industrial aver age shot up more than eleven points the day after the House budget passed. The long-term reaction of business leaders and financial markets remained unclear. Un less they become convinced that the Government's monetary and fiscal...