Word: slowdowns
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...Avanzo's union may not have been striking, but the 180,000 daily commuters on the Long Island Rail Road could hardly tell the difference. Because of a 30% curtailment of normal service, which the state-owned Long Island blamed on a slowdown by D'Avanzo's car repairmen, overcrowded trains whizzed by their usual stops, forcing thousands of frustrated commuters to abandon the platforms in search of other transportation to their jobs. Engaged in a dispute with the ailing Long Island over job security, the union conceded that its men were refusing to work overtime...
...week foresaw much chance of a quick rebound, though fewer still expected the slide to grow into a severe plunge. "The market is awash in a sea of doubt," said Vice President Robert T. Allen of the Manhattan firm of Shearson, Hammill. Along with the prospect of an economic slowdown because of the 10% income tax surcharge, there were worries over declining profits, falling interest rates (which help to suck investable funds back into bonds), and reduced business spending on expansion. With many big institutional traders sitting on the sidelines, trading volume slumped along with prices. On the final...
...realities of the marketplace to force a rollback in steel prices. After all, higher prices figure to make it even more difficult for the industry to compete with low-priced foreign steel. Nor will they help steelmakers in their efforts to drum up business during the general economic slowdown expected during the next six months. "We hope," said Johnson, "the competitive factors will, as they have in the past, bring about a readjustment on the action that the Bethlehem company has taken...
...dropped a total of 25.45 points to wind up at 888.47, way below the cherished "support level" of 900. Brokers claimed that the sell-off was a delayed reaction to bad news concerning the Paris peace talks and the Czechoslovak-Russian confrontation, combined with an anticipated economic slowdown as a result of the 10% tax surcharge. Frederick Stahl, chairman of Standard & Poor's, suggested that the midweek closings themselves were partly responsible because they eroded investors' confidence in the mechanics of the market...
...including a stop at Montreal, a stewardess announced that we had arrived over New York on time, and everyone buckled up for landing. Over the cockpit radio, however, Kennedy control was explaining that there were serious traffic delays (because of the tower workers' slowdown). Pilot Egorov also was told that his flight could be given priority for an almost immediate landing. He politely declined, radioing that "Aeroflot Zero Three will go in turn like the rest." In that case, said control, our plane's turn would come in two hours...