Word: slackly
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Dates: during 1980-1989
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...Among those considered at risk: Pan American, which had $327 million in operating losses last year, the most for any airline; and Air Florida, a onetime highflyer that encountered turbulence after expanding too fast. The test for some carriers could come quickly, since the late winter months are normally slack ones for air travel...
...corporate America. Among the most conspicuous no-shows are major oil companies, whose profits have tumbled along with oil prices. Exxon Corp., the largest U.S. industrial firm, plans to recruit at just 19 schools this season, compared with 50 a year ago. Part of the slack is being taken up by computer and electronics companies, as well as fast-growing younger firms. Says Arthur Letcher, director of graduate placement at the Wharton School: "The Fortune 500 companies are unquestionably not hiring as many students, but small companies in high-technology and health products industries are here...
...economy works. But stagnation and rising unemployment have turned the current economic debate into a brawl. Take Nobel Prizewinner Lawrence Klein, who received the 1980 award for his work in the development of economic-forecasting techniques. Klein, a Keynesian who believes in deficit spending to pump up a slack economy, dismisses the rival supply-side school, which Reagan championed. Supply-siders claim that cuts in tax rates should spur savings and investment and release a torrent of new production. "Our dispute with supply-siders is that their theories are nonsense," retorts Klein. Then he adds, in only partial jest: "They...
...result, inflation for all of 1982 now looks likely to remain under 5%, the lowest level in six years. Says David Levine, economic analyst for the investment firm of Sanford C. Bernstein & Co.: "The long-term outlook for bonds is bright indeed. The vast amount of slack in the economy will ensure that inflation will continue to decline even after the economy starts to recover...
...about three-fourths of their March quota of 7 million bbl., analysts expect Riyadh to maintain that level, rather than pump more, in order to maintain prices. Predicts Henry Schuler of Georgetown University's Center for Strategic and International Studies in Washington: "The Saudis will take up the slack. I think they are compelled to hold prices and accept a reduction of market share...