Word: shakeouts
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Dates: during 1980-1989
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...industry's uncertainty is the question of what President Reagan's successor will do once he gets his hands on the Pentagon's purse strings. Many executives echo the fears of Grumman Chairman John Bierwirth, who says, "This industry is on the verge of a cyclical market shakeout...
...group that has faced an especially difficult shakeout period is the Hmong hill tribe of Laos, many of whose members were recruited by the CIA to fight Communist forces. An agrarian people with an animist faith and a language that had no written form until 30 years ago, many Hmong were simply overwhelmed by their new circumstances. In Philadelphia, where some 2,000 were unwisely placed in inner-city neighborhoods by resettlement officials, all but about 400 have scattered to other locations after falling frequent victim to street crime. In Minnesota's Ramsey County, where some 8,000 Hmong took...
...shakeout is most severe in the home computer business, where price competition has been fierce. Coleco slashed the cost of its Adam computer from $750 to $500 last year in an unsuccessful effort to spur sales. In January the company decided to drop the Adam altogether after suffering a 1984 loss of $259 million on the machine. Commodore lost $20.8 million in the first three months of this year, partly because it reduced the basic price of its model 64 by 25%, to $145. And even IBM two months ago halted production of the PCjr, which had sold poorly with...
Sales of both hardware and software will undoubtedly go on growing, and the industry is expecting a rapid recovery in 1985, but the ranks of the competitors are likely to keep dwindling. History shows that many new industries go through an exuberant expansion phase followed by a shakeout. In the early 1920s, there were at least 300 automobile companies in the U.S., but by 1960 the industry had consolidated into four big firms. If that pattern repeats in computers, only the savviest of the industry's current whiz kids will survive...
...shakeout required many companies to re-evaluate their plans. Some firms scaled down their public offerings or postponed them. But the march to market continues. Although December is usually a poor time to catch Wall Street's attention, 105 companies sold stock for the first time last month, and the fast pace is expected to continue this year. Among the firms making initial offerings last week were DNA Plant Technology, a New Jersey agricultural genetics firm; Sporto, a Boston manufacturer of women's foot wear; and Thor Industries, an Ohio maker of motor homes and trailers. Some...