Word: slowdowns
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...start-ups folded in the first year. Alfred Raulet of Fairhaven, Mass., lost $5,000 of his personal savings and $6,500 in unemployment benefits when his new wholesale seafood business went under for lack of customer orders, which the 50-year-old attributes to the slowdown in the economy. He is currently unemployed...
...only slowdown in London comes in musicals. The handful of creators who, in various permutations, have brought forth Cats, Phantom of the Opera, Miss Saigon and the like have nothing new or imminent. Still, an irresistibly energetic and shamelessly folksy overgrown cabaret show, Five Guys Named Moe, featuring jazz of the 1930s and '40s and nonstop dancing by an all-black cast, has taken London by storm. It is headed for Broadway next April, complete with group singing of calypso bebop and a whole-audience conga line at intermission...
Optima's troubles could hardly come at a worse time for its credit-card division, which has enjoyed uninterrupted growth ever since the green card was launched 33 years ago. That all changed this year with the drastic slowdown in consumer spending and travel that was prompted by the recession and the gulf war. Charge volume, which had been growing at more than 10% annually during the past two years, is expected to decline this year...
...year the company's weakened financial condition forced it to search for outside capital. Warren Buffett, the Omaha-based billionaire who serves as interim caretaker at Salomon Brothers, stepped in with a $300 million investment. The company has also recognized that its managers have to adjust to an economic slowdown that may last for the better part of the 1990s. Says Robinson: "Management has to be able to deal with good times and bad. It's easier in good times, but we can't always operate in an environment that's friendly...
Israeli officials insist that the slowdown is temporary and that they still expect an additional 1 million Soviet Jews to resettle in Israel between now and 1996. For a country of 4.8 million to plan to absorb such numbers represents a massive commitment to economic and social expansion. The roughly $9,000 that the government grants to Soviet families in the first year cannot sustain them for long, and without private and foreign investment there will be too few jobs for them to fill. SATEC, a Jerusalem-based high-tech firm founded to capitalize on the contributions of Soviet immigrants...