Word: sag
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Dates: during 1970-1979
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Stock market's sag caps a dozen years of declining clout...
...aberration? Hardly. Though economic recovery is continuing, stock prices have been sinking all year; the Dow is now more than 14% lower than it was on New Year's Eve. And the 1977 sag only climaxes a decade of disappointment. Indeed, the stock market, once a great driving force and sensitive indicator of the U.S. economy, has been steadily losing its vigor, and its hold on investors' minds, for most of the past dozen years...
...corporate activity that the stock market's sag has not discouraged is the big takeover. Quite the contrary: partly because share prices are low, the number of multimillion-dollar mergers is rising. W.T. Grimm, a Chicago firm of merger consultants, counts a somewhat lower total number of mergers and acquisitions so far in 1977 than a year ago, but in the first six months of this year it found 20 cases in which a company proposed to pay $100 million or more for control of another firm, as compared with twelve bids of that size in the same...
...learn, for instance, that the Chicago apartment of Ebony Publisher John H. Johnson has walls of leather, floors of petrified wood and a Jacuzzi whirlpool in every bathroom. Such ostentation, we are told, is frowned upon by the black old guard, who prefer the quiet good taste of Sag Harbor summer houses and Episcopal church services. That the black rich unbridgeably divide themselves into old and new money seems to come as a surprise to Birmingham, whose naivete in such matters -whether real or feigned-quickly becomes cloying. After ten years of traveling among a growing list of ethnic elites...
...Jimmy Carter is fatigued. His eyes are red-rimmed and his shoulders sag beneath his gray plaid suit coat as he steps into the elevator from the ceremonial ground floor and rides to his living quarters on the second floor of the White House. It is a few minutes after 7 p.m., and the President of the United States, who prides himself on his punctuality, is late joining his family for dinner...