Word: shrink
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Dates: during 1980-1989
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...from 1985. In the past few weeks Ford has engineered a sharp sales upturn, thanks partly to the sudden popularity of its futuristically styled Taurus and Sable vehicles. But GM has a troublesome surplus of more than 1 million unsold 1986-model cars and trucks. In a bid to shrink its swollen inventory, GM late last week postponed the roll-out of its 1987 models, from Sept. 25 to Oct. 9, and announced some dramatic come-ons. The automaker will offer customers a choice of two new incentives: new-car loans at rates as low as 2.9%, or rebates ranging...
...last week. After two months of intensive negotiations, the two sides reached an agreement in Brussels to lift mutual restrictions on some $1 billion worth of goods. Among other things, the E.C. concessions would lower tariffs on U.S. citrus products, almonds and other nuts, while the U.S. would shrink duties or raise limits on E.C. exports of anchovies, olive oil, paprika and cheeses...
Whatever the outlook, no one can deny that the U.S. economy is wheezing at the moment. Industrial production, which grew slowly last year, began to shrink in the second quarter of 1986 (see chart). One main cause of the malaise seems to be companies' reluctance to invest in new plants and equipment. Says Stephen Roach, an economist with the Morgan Stanley investment firm: "Capital spending is in the worst shape for any postwar expansion period." Roach projects that capital investment for all of 1986 will fall by 4.5%, compared with last year. Says he: "Every time such a contraction...
Many investors still expect People Express to survive in some trimmed-down form. Says Peter Lynch, manager of the Fidelity Magellan Fund, which has invested in People from its inception: "They may have to abandon Denver and shrink their company by a third." Nonetheless, he adds, "they're still in a dominant position in New York, the largest market in the country...
...classic shamus prefers a snub-nosed .38, made in the U.S.A. He is invariably single (Philip Marlowe was a bachelor until Chandler's last, unfinished novel; Lew Archer lives alone, as does Spenser, although Spenser keeps company with Susan Silverman, a compassionate shrink). He is also short of cash and careless about his clothing. He is a two-fisted drinker (even though James Crumley's Milo Milodragovitch goes for peppermint schnapps) and sometimes drops his guard long enough to reveal a flash of erudition (Marlowe has atrocious taste in socks but can quote Browning). Touches of class cater...