Word: slashed
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...were vehemently opposed to a Lorenzo takeover. They feared that he would once again resort to a tactic he had used after Texas Air won a battle for control of Continental Airlines. In 1983 Lorenzo took Continental into bankruptcy proceedings, which enabled the company to void union contracts and slash employee salaries. That maneuver earned Lorenzo a reputation as a union buster...
...also shut off credit to Argentina, which owes $48 billion in loans. Although the country promised the IMF last September that it would slash inflation from a 687% annual rate to 300%, prices are now rising at an 851% pace. The government is trying to slow the whirlwind by limiting wage hikes to 90% of the previous month's cost of living increases, but that policy has led to a series of strikes, which threaten to stall economic growth. Admits President Raúl Alfonsín: "The government is multiplying its efforts to get the country back on its feet...
...jazz band serenaded the smiling couple as hundreds of gaily colored balloons were released. Reagan's high spirits were also reflected in his Saturday radio broadcast, taped at the hospital, in which he joked, "I don't have as much stomach" any more for the failure of Congress to slash federal spending. More personally, he urged those unsure of their health to see a physician and "tell them Dr. Reagan sent...
...down payment on its true intentions. "Everyone on our side of the fence believes passionately that [tax cuts] will be a continuing agenda," Flight said. The current proposals had been "sieved for what is politically acceptable." His words were interpreted by many to mean that the Tories would slash taxes and then choke spending on schools and hospitals, contrary to their current protestations. Howard parried this mortal threat to his credibility by firing Flight as deputy chairman, kicking him out of the Tory group in Parliament and having him "deselected" from running again. But Flight decided to fight. He claimed...
President Bush may want to slash operating subsidies for Amtrak. But with America's passenger rail service running through 46 states, plenty of members of Congress will work to stop him dead in his tracks...