Word: load
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Dates: during 1980-1989
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...Wickes Corp., a $2 billion San Diego lumber and furniture seller, bought Gamble-Skogmo, a struggling Minneapolis-based retailer, in an attempt to ease its dependence on the highly cyclical housing industry. Wickes executives were enthusiastic at the time, even though the deal doubled the company's debt load to nearly $2 billion. After both the housing and the retailing businesses unexpectedly went into a simultaneous slump last year, Wickes ran up huge losses that could exceed $80 million. Chairman E.L. McNeely last month resigned under pressure from the company's lenders. A new boss, Sanford Sigoloff...
Many observers believe that the next big corporate failure will be a commercial airline. Air carriers traditionally have a heavy debt load because of the high cost of buying new airplanes. Declining passenger loads and fare wars have produced big deficits. Western Air Lines, which is based in Los Angeles, lost $103 million during the past two years. Chairman Neil Bergt has been desperately trying to reduce costs by laying off some workers and getting others to take a 10% pay cut. Says he: "We can't continue the losses we have had." Other airlines on the endangered list...
Meanwhile, the Huskies O'Route kept the Harvard bats silent until only two outs away from victory. In a last-ditch effort the Crimson managed to load the bases in the bottom of the seventh, but Northeastern reliever Dave Seropiant induced Allard to ground out to second to end the game. First Game ab r h bt Sullivan,cf 3 2 1 0 O'Malley c 4 2 2 1 O'Leary dh 3 1 1 0 Carr,dh 4 0 3 3 Carey,3b 3 0 2 0 Bates,if 3 0 1 0 Gulney...
...Airlines in a Nose Dive" [March 22], you pointed out Pan Am's falling load factor and said, "TWA's [load factor] dropped even further in the first two months of this year to 49.1%." Untrue! TWA's load factor rose by 1.7 percentage points in the first two months of 1982 to 53.2%, reflecting our continuing program of reducing excess capacity-the plague of the industry...
...Because of its shrunken ranks, the IRS will audit only some 1.6% of the returns filed this year, compared with 1.8% last year and 5% in 1964. The Administration now wants to add 5,225 employees to the IRS staff next year to help cope with the massive enforcement load...