Word: peak
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...travel agents. The systems allowed the airlines to launch myriad discounts, usually on advance purchases with high (as much as 50%) penalties for failure to show up for the seat. For its part, People operated more like a mass-transit company. It offered two cheap daily fares--peak and off-peak--to most destinations, sold few tickets in advance and frequently overbooked its seats. Later this summer People will finally insert its flight schedule into the sophisticated computer networks managed by American and United...
That great leveling effect, however, has not made pop any more palatable to old-line intellectuals. The contempt was, until rather recently, obligatory and absolute. Mandarin ill will reached a peak in "Masscult & Midcult," Dwight Macdonald's acutely cranky 1960 essay. "Masscult is bad in a new way," he wrote, because "it doesn't even have the theoretical possibility of being good." A pernicious "Gresham's law" was inevitable: good art would be driven out by the bad -- by pop. Another ferocious holdout is William Gass, a very intelligent critic whose opaque, self-conscious novels are the sort of fiction...
...case, Erburu could have predicted the demise of the News American, which was owned by the New York-based Hearst Corp. Like many other afternoon dailies, the News American had suffered declining circulation for decades, from a peak of more than 200,000 in 1959 to some 100,000 this year. Many of its blue-collar readers were leaving Baltimore for the suburbs, while others were skipping the afternoon paper in favor of the evening television newscasts. Unprofitable for several years, the paper was losing an estimated $800,000 to $1 million a month at the end. When Hearst tried...
...trade deficit grew to an all-time high of $148.5 billion in 1985, up more than 20% from the 1984 peak. In Washington, this may sound like just another economic indicator, but back home where Congressmen campaign, the figure means unemployment, and trade has become a hot regional issue. Textile workers in North Carolina, shoe manufacturers in New England and Missouri, steelworkers in the Midwest and lumberjacks in the Northwest have been the most vocal in their complaints. "The perception is out there," said one Republican Congressman, that the "Administration isn't doing enough...
Until last week, many Wall Street investors thought the fun was over. The extraordinary bull-market surge that began last September seemed to have sputtered as of April 21, when the Dow Jones industrial average hit a peak at 1855.90. Between then and May 19, the Dow plunged 97.72 points, to 1758.18, losing more than 5% of its value. But when Wall Streeters returned to their command posts, computer terminals and telephone consoles after the Memorial Day hiatus, they happily resumed some unfinished business: a dizzying bull- market comeback...