Word: shock
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Dates: during 1990-1999
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...legislators -- also supports Proposition 140. Conservative Tom McClintock, 34, sees the budget cuts as a chance to unload "political hacks who have been parked on the legislators' payrolls." Says Robert Forsythe, 50, a surviving senate aide: "Let's face it -- the cuts have come as a special shock because this place has felt itself to be encased in glass and somehow protected from the layoffs and cutbacks so many people have been feeling around the country. It's a slap of reality...
...traffic since it was purchased in 1986 by Carl Icahn, cited the Persian Gulf in announcing that it would not be making $75.5 million in scheduled payments to bondholders in February. As for the dismal performance of retailers over Christmas, who would imagine that thigh-high hemlines or sticker shock over $100 cotton sweaters and $200 tennis shoes rather than combat jitters could have held consumers back...
Today's Iraqi announcement drew cautious initial reactions from world governments, but sent rapid shock waves through world financial markets, which have ridden a roller coaster throughout the crisis...
...world's oil reserves. In a nationwide survey taken last month by bipartisan pollsters, oil was most often cited as the main reason for the U.S. presence in the Middle East. The U.S. is more reliant on foreign oil today than at any time since the 1973 oil shock; imports have doubled since then, and last year accounted for more than half the trade deficit. Though last fall's budget deliberations did produce a token 5 cents-per-gal. increase in federal gasoline taxes, the possibility of further levies may have been scuttled when Republican pollster Robert Teeter found that...
Plagued by hyperinflation, Argentina and Brazil, South America's two largest economies, last week entered different forms of shock treatment to slow runaway wage and price increases. Brazil announced a hold on wage increases until July and an indefinite freeze on prices. Economy Minister Zelia Cardoso de Mello also disclosed plans to dismantle much of the country's elaborate system of indexation, which has been used since the 1960s to offset the effects of inflation. Among the system's inflation-fueling features scheduled to be phased out: so-called overnight bank accounts that pay interest to depositors...