Word: shrank
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...year was tough for all American automakers, GM fared especially poorly. While GM car sales in the U.S. fell some 21%, from 4.7 million in 1986 to 3.7 million in 1987, Ford sales declined only 1%, to 2 million cars. In just one year, GM's U.S. market share shrank from 41% to 37%, while Ford's grew from 18% to 20%. Moreover, by earning more on each car, Ford continued to rack up bigger profits than its much larger rival. Through the first nine months of 1987, GM earned $2.7 billion on revenues of $75.4 billion, but Ford cleared...
...dollar got a far less ambiguous boost later in the week with the Commerce Department's announcement that the U.S. trade deficit shrank during September to $14.1 billion, down from $15.7 billion in August. The decline was sharper than expected, especially by comparison with the disappointingly small improvement in the previous month's results. The disclosure of those results on Oct. 14 helped trigger the crash five days later. Despite September's narrowing, the trade gap remains huge by any standard. At the current rate, the 1987 deficit is likely to exceed last year's record of $156 billion...
...giving workers and businesses greater rewards, failed to produce an offsetting revenue bonanza. While sky-high interest rates and the 1981-'82 recession might be partly to blame, supply-side critics say the idea was faulty from the start. In any case, the budget deficit exploded as Government receipts shrank. The flow of red ink nearly tripled in two years, hitting $207.8 billion in fiscal 1983. It would have been even higher if Congress had not adopted a $98 billion tax increase in 1982, which Reagan grudgingly signed. Moreover, the deficit kept mounting despite the Administration's imaginative revenue- boosting...
...foreign moneymen are to see that happen. The reluctance is understandable. Unless a decline is carefully managed, it will raise two dangers: a renewal of inflation and a panic flight of foreign capital from the U.S. (since foreigners would not be eager to hold dollar- denominated investments that shrank in value against their own currencies...
...fact, it does. If the U.S. shrank from its commitment to protect free shipping in the gulf, it might as well discard any pretense of being a superpower. Nor could the U.S. afford to stand by idly after the Soviets earlier this year eagerly accepted Kuwait's invitation to help protect its oil shipments...