Word: mid-1980s
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Most of the property being acquired in the S & L bailout is concentrated in the Southwest, where the bulk of insolvent thrifts overextended themselves during the oil-boom days of the late 1970s and came to grief in the oil crash of the mid-1980s. The thrifts began repossessing property when borrowers could no longer meet payments, often because homeowners lost their jobs or business owners suffered from plunging sales as the energy-based economy declined. In many cases the loans should never have been made. Observes James Noteware, national director of real estate for the accounting firm of Laventhol...
According to Grossman, in the mid-1980s, violence in South Africa "became such a gripping story" because it reminded American audiences of the recent Civil Rights fights...
Some oil-industry experts have alleged that Exxon's sluggish initial response to the Alaskan accident was partly the result of another corporate lapse: the reduction of its spill-management staff during cost cutting in the mid-1980s. The company lost nine of its top environmental and spill-control officers, including scientist G.P. Canevari, the inventor of Corexit 9527, a commonly used oil-slick dispersant...
...Once a C-section, always a C-section." That is the snappy guideline most obstetricians have followed since World War I. By the mid-1980s, 1 baby out of every 4 born in the U.S. was delivered by caesarean, making the U.S. the world leader in surgical deliveries. In 1987 an estimated 35% of the procedures were done only because the mother had previously delivered by C-section. Last week the American College of Obstetricians and Gynecologists officially declared new guidelines on caesareans for the first time in 70 years. Its recommendation: doctors should encourage mothers who have...
When France changed direction during the mid-1980s and turned many of its nationalized industries back to private hands, no one should have felt more pleased than Maurice Allais, France's most eminent economist. During the country's postwar reconstruction, when French economists of nearly every stripe endorsed nationalization, Allais took exception. Still, he became an influential contrarian voice in the making of France's industrial policy, arguing that even state-run monopolies are most efficient when they set prices and allocate resources according to market forces...