Word: shrinking
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...fare wars have ultimately been caused by the twin impact of deregulation, which brought price competition to the airlines and allowed nonunion upstarts to flourish, and the recession, which caused traffic to shrink. Result: too many seats chasing too few passengers. No-frills carriers like People Express (see box) and Southwest Airlines are thriving on the competition by holding down costs, but some other small airlines are being squeezed. Air Florida, which had helped spark an earlier round of discounting, lost $64 million in the first nine months of 1982 after Delta and Eastern began matching the fares...
Discounts may shrink as the airlines recover, but bargain fares are likely to remain. "The American consumer is doing to the airlines what he has already done to the auto industry," says Julius Maldutis, an industry analyst at Salomon Brothers. "He buys only at discount." Concedes Delta's Berry: "Discount rates are here to stay, but they must also be realistic." In deed, with a lot more realism and a little more luck, U.S. airlines may finally pull out of their financial nosedive and regain their cruising altitude...
...billion painkiller market; that share slipped to 7% during the scare, but has now rebounded to 24%. Tylenol's new wrapping offers triple protection: 1) the outer box is glued shut; 2) the cap and neck of the bottle inside the box are encased in a form-fitting shrink seal; and 3) an airtight foil seal covers the opening underneath. Like some other manufacturers, Johnson & Johnson says it has not raised prices to cover the extra 2.4? that these safeguards add to the cost of the package...
...says William Quandt, an energy specialist at Washington's Brookings Institution, "you start sending wrong signals to consumers and investors. And we set the stage for returning to more wasteful use of energy." In addition to bolstering conservation, taxes could help several nations - the U.S. in particular - to shrink their budget deficits, but the fees would also be a drag on hoped-for world economic recovery...
...importing developing nations would gain in many ways. Their energy bills would shrink. Lower interest rates would ease their debt burdens. Their exports of raw materials to the rejuvenated industrial economies would surge. As income in the developing countries increased, they would be able to buy more goods from the developed world, generating a self-sustaining cycle of growth...