Word: slowdown
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...Britain's worst power cutback since electrical workers staged a slowdown a little over a year ago. This time the cause of the crisis was the nation's 280,000 coal miners, who were striking nationwide for the first time in 46 years. With 70% of the country's power dependent on coal fuel, the government late last week declared a state of emergency, and power cuts ranging from 10% to 30% and lasting up to three hours began spreading across the country...
Both the aerospace wage decision and the steel price rollback provided encouraging signs of a slowdown in the wage-price spiral. In recent years, unions have justified exorbitant wage settlements by pointing to ever higher cost of living increases, and companies have been able to pass along higher costs to the consumer almost with impunity. That game of economic leapfrog now has some new rules. As aerospace workers and steel executives learned, those who jump too far are apt to land out of bounds...
...economy's most serious potential problems this year will be not so much domestic but international. There is some doubt about whether U.S. growth can revive strongly in the face of a slowdown in Western Europe and Japan. Business news from overseas is gloomy: declining profits in Germany, roaring inflation (9%) and relatively high joblessness (4%) in Britain, and high-level talk in Japan that this year marked the end forever of perennial 10% annual growth...
Brooks Brothers, however, merely sniffs at the trend and professes never to have noticed a slowdown. "We sell as many now as we ever did," says Vice President Ashbel T. Wall. Brooks has no plans to offer the longer-collar version now becoming so popular elsewhere, and will stick with the style that it has sold so well for so many years. "It's nice," he says, "to know you're right...
...Labor Ministry seeks to persuade businessmen to pare the average work week from 46 hours to 40 hours. Slower growth will eliminate many small producers and bring a moderate earnings drop for major firms. On the other hand, service industries, especially those in recreation fields, will grow as the slowdown provides the Japanese with more free time...