Word: shrank
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Dates: during 1970-1979
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...annual rate of 3% in the first quarter, not 1.6% as first reported; the drop was the largest since late 1960, a recognized recession period. A particular depressant to the stock market: corporate profits have gone down more sharply than Wall Street expected. In the first quarter, pretax profits shrank to an annual rate of $85 billion, more than $10 billion below the record pace of early...
...council to recruit agencies for accounts it considers "major." When Peace Corps officials, on their own, dropped Y. & R. for Keye, Donna & Pearlstein, council members observed that the new agency was too small for an account that had been given $25 million worth of media placements. The council thereupon shrank Keye, Donna & Pearlstein's new plum by reducing Peace Corps advertising from "major" to "bulletin" status, on grounds that the council had higher-priority campaigns to handle. This action meant that the account was no longer eligible for space or time from the council's pool and that...