Word: shrunk
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...market for large mainframe computers, the company is getting bullied in two important product categories: personal and midsize machines. With its PCs holding sway as the industry's standard for business applications, IBM once commanded nearly 40% of the $25 billion personal-computer market. Today, IBM's share has shrunk to less than 30% as its recent models have suffered assaults from competing formats like Apple's versatile Macintosh. IBM's newest line of personal computers, the Personal System/2, got off to an initially promising start after its introduction last April, selling 1 million units within seven months...
...entrepreneur as plant manager, charging him with incompetence. What had gone wrong? For one thing, Bu misjudged a craze for Western-style suits and ties. He imported machinery that could produce 300,000 Western suits a year, but by the time he got it working, the market had shrunk. Moralized one Communist Party official: "Bu was overwhelmed by the honors given to him by the state and the people...
Then came Black Monday. When the market crashed on Oct. 19, so did the reputation of this hot new investment tool. Since then the assets covered by portfolio insurance have shrunk by about two-thirds. Worse, its practitioners were accused by a presidential task force chaired by Investment Banker Nicholas Brady of being primarily responsible for the severity of the crash. Says Howard Stein, chairman of Dreyfus and a member of the Brady commission: "A handful of aggressive speculators brought the market to near collapse." Robert Kirby, chairman of Capital Guardian Trust and another task- force member, comments, "They...
Luxury cars, once a bargain during a tour of duty in West Germany, are now beyond the reach of all but high-ranking officers: the Army registered only 136 BMW owners this year, compared with 1,044 in 1985. The 2 1/2-year waiting period for a Mercedes-Benz has shrunk to six months. "Canceled orders used to be simply unheard of," says Gottfried Plangg, of the firm's NATO sales division. "But now everybody's nixing orders placed when the dollar was high...
...steady devaluation of the peso has boosted exports and helped build foreign reserves of $15 billion, the reforms have produced an annual inflation rate of 130%. Additional cutbacks in public spending are certain to further antagonize Mexico's powerful labor unions, which have grown angry as purchasing power has shrunk by as much as 40% during the past five years. Moreover, Mexico has a foreign debt of more than $100 billion that consumes about $1 billion a month in interest payments. Although a showdown with the labor unions may come, Salinas is expected to follow De la Madrid's austerity...