Word: leaner
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Dates: during 1980-1989
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Tumbling prices hurt Mexico because the Latin nation gets 70% of its export revenues from oil, which Mexicans have dubbed the economy's "fat cow." But that once ample creature is growing leaner by the day. So far, the drop in crude has cut $2.5 billion from Mexico's anticipated 1986 earnings, and the country may not be able to stand much more. "Falling oil prices will have an impact on a Mexican budget that is already stretched to the limit," says Economist Rogelio Ramirez de la O. He estimates that a sustained price...
...TIME board meeting, said that unless action is taken to bring down the deficit and the dollar's value, America could owe foreigners $1 trillion by the end of the decade. Observed Heller: "We're fattening our own standard of living today, at the expense of a leaner diet tomorrow when we have...
...Block, the current farm troubles are a sign that 52 years of heavy Government involvement in agriculture have led both farmers and taxpayers to a dead end. Rural prosperity, they believe, can be rebuilt in the long run only by a long-overdue and surely painful transition to a leaner system that forces farmers to compete with little Government aid in markets at home and abroad. Says Block: "This country can no longer afford large, explosive, open-ended budget expenditures (for farm price supports). This country can no longer afford farm policies that do not allow us to be competitive...
...seat Central Committee. The anticipated housecleaning is intended to make room for younger, more open-minded and better-educated officials who are likely to promote rather than resist reform. Efforts are also under way to transform the highly politicized 4.2 million-strong People's Liberation Army into a leaner, more professional fighting force by cutting back on manpower and recruiting educated young men and women instead of promoting politically reliable but uneducated officers...
Diversify! That was the buzzword in Big Oil boardrooms during the 1970s, when the companies were trying to stash away their megaprofits in ventures that would pay off in leaner times. But now, just when the investments should be ripening, many have turned up sour. Last week Exxon said that it is trying to find a buyer for its moribund office-equipment division, an enterprise that has cost the company some $100 million. When Exxon challenged Xerox, IBM and Wang by introducing its Vydec word processors, Qyx typewriters and Qwip facsimile transmitters in the late 1970s, the innovative machines drew...