Word: ruinously
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Alfonsin will need all the support he can muster to extricate Argentina from its political and economic quagmire. On the eve of the inauguration, after 2½ years of self-imposed exile in Spain, where she had fled following a ruinous term as President, Juan Perón's widow Isabel flew into Buenos Aires as Alfonsin's guest at the ceremony. Whether Isabelita plans to lead a regrouping of the ragged Peronist ranks is unclear, but if she assumes a major role in the party, it could spark bitter feuding between her supporters and foes...
Competition can be as rough-and-tumble inside Japan as anywhere else in the world. Price cutting is relentless and often ruinous. A Casio digital wristwatch that cost $120 five years ago sells today in Japan for only $12 to $15. Since 1975 the price of a simple hand-held calculator has decreased from about $25 to $10. That drop has forced more than 30 Japanese companies out of the calculator business, leaving six firms at the moment. Says Kenichi Ohmae, manager of Tokyo operations for the McKinsey & Co. businessconsulting firm: "By no definition can this fierce rivalry be construed...
...resumed his law practice, opening an office in Tallahassee and bringing his parents to live with him in 1931. The Depression had proved ruinous to his father. Pepper learned firsthand the problems of the elderly, caring for his father until he died in 1945 at the age of 72 and his mother until her death...
Only five hours before a midnight deadline last week, Eastern Air Lines avoided a potentially ruinous strike that would have grounded many of its flights just as the peak Easter season was getting under way. But the cost was enormous. Eastern had offered members of the International Association of Machinists and Aerospace Workers, which represents 13,500 mechanics, baggage handlers and other ground personnel at the airline, a 25% raise spread over two years, starting with a 6% hike in April. The union rejected that package. Instead it wound up with a 32% raise by 1984, including an immediate...
...ruinous price wars are just one sign of the chaos that has overtaken the industry since the Airline Deregulation Act of 1978 gave rise to wider competition. U.S. carriers lost an estimated $550 million in 1982, the third consecutive year of record deficits. Experts now fear that some weaker airlines may follow the route of Braniff International, which declared bankruptcy last May. Among those considered at risk: Pan American, which had $327 million in operating losses last year, the most for any airline; and Air Florida, a onetime highflyer that encountered turbulence after expanding too fast. The test for some...