Word: marketization
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Dates: during 1990-1999
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Initially, Grove Property Trust and the City of Cambridge had a verbal agreement that Grove would keep all the affordable units in exchange for a $2.3 million low-interest loan from the city, representing the difference between the market rent price and the affordable-housing price...
However, in mid-December, after presenting the proposal to their board of trustees, Grove told Cambridge that the deal was unacceptable, angering the councillors-who are considering seizing the property from Grove in exchange for the market price...
...past few years, however, the economic upper hand has shifted more toward oil-consuming countries. Asian economies have slowed, decreasing demand, forcing oil-producing nations to vie for market share by exporting more oil at lower prices. One significant effect of the falling prices is the decline of the U.S. oil industry, which is unable to produce oil so cheaply. According to the New York Times, the U.S. now produces 6.4 million barrels of oil daily, as opposed to 9.2 million...
Other interests eagerly crashed the party, seeing the banana dispute as a chance to settle old scores. U.S. pork producers, suffering through a severe price slump, sought to block the import of Italian hams like prosciutto. "The E.U. has closed off much of its market to us," reasoned Nick Giordano, a lawyer at the National Pork Producers Council. "We're looking for reciprocity, and one way to get it is nicking them on bananas." The council got pork added to the hit list. The hog farmers pushed to nail Dutch and Danish ham producers. But because those two countries...
Many critics asked, reasonably enough: Why is the U.S., which doesn't grow bananas, embroiled in a banana dispute with Europe, which also doesn't grow bananas? Answer: Before the E.U. imposed the current banana regime in 1993, non-E.U. companies controlled 95% of the European banana market. Since then, American companies like Chiquita and Dole have seen their European market share plummet 50%. Hardest hit has been Chiquita, which has lost money four of the past five years--the result, company officials insist, of being denied access to the European market...