Word: ruinous
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Dates: during 1980-1989
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Chrysler, which insists that it cannot afford higher wages, wants its Canadian employees to return to work and then relume negotiations in January, as U.S. employees have agreed to do. A lengthy strike "will be extremely damaging to the company and potentially ruinous," says Vice President Thomas Miner...
...arrived. The cars bear testimony to hard times. In the '70s, the boom years, those cars would have been new. Now only an occasional '82 Buick Regal or Chrysler Le Baron gleams hopefully among older Coupe de Villes, Torinos and Caprice Classics. A Thunderbird stands in ruinous decay next to the embarrassing glint of a new Toyota. An ancient Ford station wagon, held together by spit and masking tape, boasts a bumper sticker that says: THUMBS UP FOR MICHIGAN...
...nightmare is both grim and grimly plausible. A ruinous new energy crisis once again doubles or triples oil prices. Economies are battered, and governments around the world topple. In the U.S., business goes into a slump that can be compared only with the Great Depression...
Braniff badly needed the wage deferral assistance from its employees to ease a sudden and potentially ruinous cash crunch. The trouble arose when approximately $9 million worth of Braniff tickets were unexpectedly presented for redemption by the airline industry's ticket clearing house. The clearing house operates like a kind of back-office ticket exchange, allowing reservation agents for one airline to accept tickets for fares written by another carrier...
Agriculture. Farmers traditionally borrow heavily in order, among other things, to finance planting and machinery purchases, paying off the loans when they sell their crops. For some, the costs are becoming ruinous. In northwest Wisconsin, Walter Betzel grossed $100,000 last year from his 350 acres of corn and oats and his 30 milk cows. Some $19,000 of the amount went right off the top for interest payments. After his interest and other operating expenses, Betzel had $5,000 left to spend on his wife and three children. Says he: "We're sick...