Word: shrank
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...falling from 5% this year to 3.6% in 1989. Since interest rates are related to the level of inflation, the advisers trimmed their estimate of the 1989 rate on three-month Treasury bills from the 7%-8% range to 5%. By that statistical legerdemain, the projected 1989 budget deficit shrank from more than $200 billion to $123 billion...
...looks so much smaller," Reagan said as he wandered through the rooms. When he studied the side yard where he, his brother Neil, and the O'Malley boys, Edward and George, used to play, he said to Neil: "They even shrank our football field." The President took a handful of popcorn from a bowl on the sitting-room table, just where his mother Nelle always had it popped and waiting. "No salt," he muttered. "Good," said Nancy, who tends the diet...
...Iran's Shah, the price of OPEC crude reached as high as $40 per bbl. Energy consumers reacted to the staggering prices by conserving fuel in a way that had never been imagined. Demand for electricity increased by only 1.7% in 1980 and .3% in 1981 and actually shrank 2.3% in 1982. That was the first decline in power use since the end of World War II. The lower energy consumption placed the power industry in an awkward position: the supply of electricity far exceeded the demand. American utilities now have about 30% more generating capacity than they need...
That Pennzoil-Getty accord, though, drew the attention of Texaco, based in White Plains, N.Y., which has also been looking for new supplies of crude oil. Texaco's total petroleum pool shrank 25% between 1979 and 1982, to about 1.9 billion bbl. With the addition of Getty's supply, Texaco's reserves would double...
Kodak has been responding to tough times partly by paring its payroll. The company laid off more than 3,200 workers last year and began offering incentives for early retirement. Such moves shrank Kodak's worldwide work force by some 7%, to about...