Word: lost
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Dates: during 1970-1979
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...begin to decline. It happened with railroads; it is now happening with steel, and in ten years the auto industry will have problems." What has turned an industrial adjustment into a crisis, in De Bodinat's view, is that the declining industries are not being replaced. "Capitalist economies have lost their flexibility," he charges. "In France, for example, it has become far too difficult to launch a new business." Governments often discourage entrepreneurs with mazes of administrative formalities. Banks hesitate to lend money for new ventures...
Steel. In steel-producing regions such as France's Lorraine, Belgium's Charleroi and Liège, West Germany's Saarland, south Wales, northern England, and Scotland, unemployment is sharply higher than national averages. Over the past three years, 61,000 jobs have been lost in the industry, leaving a worried work force...
Meanwhile, the losses continue to pile up. As steel prices plummeted by about 50% between 1974 and 1977, Europe lost $30 or so on every ton sold. The overall deficit last year was about $3 billion, with the nationalized British Steel Corp. accounting for $1.6 billion of the total. The French industry, saddled with a $10 billion debt?Europe's highest?was in effect taken over reluctantly last September by the government. West Germany, Europe's biggest steel producer, has lost the least (about $625 million), perhaps because in the past three years it laid off the most workers...
Textiles. Still the biggest employer on the Continent (2.9 million workers), the textile industry has suffered the most. Over the past five years, at least 3,500 enterprises have been closed and more than half a million jobs lost. In Ghent alone, home of Belgium's cotton industry, unemployment levels have reached 11%, roughly equal to those in France's eastern Vosges region. In all, a million more workers are expected to be laid...
...battles have ended in victory. She tried and failed to persuade her boss, Transportation Secretary Brock Adams, to make air bags mandatory in all new cars beginning in 1981 but had to settle for a 1982 to 1984 deadline. Claybrook later lost out even more embarrassingly in her attempt to tighten braking standards for tractor-trailers. She was testifying before a congressional committee on her opinion even as Adams was disagreeing with her at a press conference...