Word: pinched
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...rest of the transportation industry is certain to feel the pinch of higher oil prices. Although airlines have begun to pass along the increases in the form of surcharges, analysts warn that the policy could backfire by discouraging air travel. Says Robert Decker, who follows the industry for the Chicago-based investment-research firm Duff & Phelps: "Fuel prices are important, but the really important variable is what happens to the economy. If the economy falters, it will mean a significant reduction in profits, or losses, at some carriers." That could cripple such weak airlines as Pan American and TWA, already...
BOSTON--Rising tensions in the Middle East could further sink the New England economy, as motorists feel the pinch at gasoline pumps and manufacturers watch oil prices climb, experts said yesterday...
Suddenly, it is fashionable to pinch pennies. Washington socialites Frank and Jayne Ikard are not taking their annual grand tour of Italy this year. Instead they plan to drop in on friends in Montana. Beverly Hills matron Joan Gross last week was browsing at the Price Club, a discount warehouse in nearby Inglewood, alongside an Asian restaurateur shopping for kitchen supplies and a Hispanic family buying low-price food in bulk. Said Gross: "Conspicuous consumption...
Other parts of the country are also feeling a pinch. Cutbacks in defense spending have slowed the jaunty California economy. Defense contractors such as Lockheed, Northrop and McDonnell Douglas may dismiss as many as 20,000 of their 125,000 workers by year's end. And California agriculture, the state's largest industry, is suffering through the fourth year of a severe drought. "There's no engine of growth in sight," says Larry Kimbell, director of the Business Forecasting Project at the U.C.L.A. School of Management. "In the past, one sector after another took the lead in sustaining the economic...
...recent strikes by shipyard and railroad workers for higher pay and improved conditions suggest that patience may be wearing out. "People have been amazingly tolerant so far," says Professor Adam Bromke of the Polish Academy of Sciences. "But they are feeling the pinch, and there are many dangers ahead...