Word: setbacks
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Dates: during 1980-1989
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...paying for the war, the government suffered a serious setback last year when its oil revenues fell from a projected $18 billion to $8 billion. Yet the country is not on the brink of financial disaster. Its central bank has a relatively healthy $5.1 billion in foreign reserves, plus at least $2 billion in gold. Now that oil prices are climbing again, Iran expects to earn as much as $12 billion this year...
...soon followed. Unimation, founded in 1959, was a robotics pioneer. Its first product was an $18,000 Unimate machine used by General Motors to load forged dies at a New Jersey auto-assembly plant. As recently as 1981, Unimation made 45% of all robots sold in the U.S. Another setback for robotics will take place next month, when GE plans to fold its $4 million robotmaking plant in Plymouth, Fla., idling 118 workers...
...time the battleground was the U.S. Supreme Court, where the Justices decreed that a Louisiana law requiring that creationism be taught along with evolution in the public schools was unconstitutional. The 7-to-2 decision, strongly bolstering prior rulings maintaining the wall separating church and state, was a major setback for Fundamentalist Christians...
...setback stemmed from an accounting change that put aside $1.1 billion in case the bank's Latin American debtors start defaulting on $7.3 billion in loans. This dose of preventive medicine, prompted by archrival Citicorp's similar move, may eventually strengthen BankAmerica. But it could force the company to sell off some major assets, including the Seattle-based Seafirst bank, acquired...
...young industry's setback is likely to be short lived, however. Genentech is expected to win FDA authorization for t-PA, perhaps within a year or so. Says Robert Kupor, an industry analyst with the Seattle-based Cable, Howse & Ragen brokerage firm: "It's great stuff, and there's no doubt it will ultimately be approved." Once that happens, experts expect to see a $1 billion-a-year market for clot-dissolving drugs...