Word: rodacarga
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Many of the businesses still open are deeply in debt. Sales of Rodacarga Co., a maker of materials-handling equipment, shrank from $20 million to less than $5 million as the peso became worth less and less and the austerity program began taking hold. A loan the company has from Philadelphia's Girard Bank now exceeds its entire peso capital. The firm's order backlog, usually nine months, has dropped to four. Company President Carlos Lopez has been forced to close down two of his company's three plants and lay off 362 of his 509 workers...
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