Word: slashings
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...some people could drift off to other gasoline brands once their charge cards are no longer accepted. The company, though, thinks that drivers will keep pulling into its stations because Arco will be passing on its administrative savings to customers. The company says that it will be able to slash gasoline prices by as much as 30 per gal. in the coming weeks as a result of abandoning credit cards. If Arco's sales spurt as its prices dip, other companies will probably follow the lead and hasten the demise of gasoline credit cards. Any station owners who look...
...little more than six months ago, Congress granted U.S. business major tax cuts that were designed to spur investment in job-creating factories and to increase industrial productivity. That legislative largesse enabled some highly profitable companies to reduce tax bills greatly. Now, with Congress trying to find ways to slash the gargantuan federal budget deficits, Senate Finance Committee Chairman Robert Dole and other congressional leaders want to rescind some of their generosity...
...Black's first day at work that he suddenly discovered the company was ready to announce a big quarterly loss. To slash costs, he moved the firm's headquarters to Chicago to be closer to AM's plants and sold off the high-tech acquisitions. As the company's prospects continued to deteriorate, though, Black decided to sue. Last week AM International announced that he had quit to avoid a conflict between his employment and the lawsuit...
Using deficit predictions higher than the ones offered by the President, the Senator estimated that his plan would slash $320 billion from the budget over the next three years. Though Domenici's proposal would still yield a $90 billion deficit in 1983, just a shade less than Reagan's plan, the shortfall in 1984 would be $65 billion and in 1985, $55 billion. The Administration's proposal, by contrast, allows for an $82.9 billion deficit in 1984 and $71.9 billion in 1985. Even those figures seem exceedingly optimistic. The Congressional Budget Office expects the 1983 deficit...
...look for further declines. Leif Olsen, head of the economic policy committee of Citibank, believes that the recession will soon dry up corporate demand for credit, relieving the borrowing pressure. Secretary of the Treasury Donald Regan argues that the second stage of the Reagan tax cuts, a 10% slash in income tax rates taking effect July 1, will prompt much more savings by individuals, thereby increasing the supply of lendable funds and relieving pressure on interest in yet another...