Word: slump
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Dates: during 1980-1989
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Fellow scoring machine Scherrer was pleased with his performance because it meant he was "finally getting my game under control. I'd been in a slump earlier in the season, and I'm beginning to play better...
...look back. Something might be gaining on you." That old admonition from Baseball Great Satchel Paige is taking on special meaning these days for IBM. Beset by rivals and mired in an industry-wide slump, Big Blue in 1986 has had a year it would rather forget. Even as the firm proudly announced its new line of System 9370 business computers last week, there was speculation on Wall Street that its net income may be down again this year. Profits had already dipped .4% in 1985, to $6.6 billion. The nervousness pushed IBM stock down from 133?...
...more serious threat to the project may be the global slump in oil prices. Libya's oil revenue is expected to total $5 billion this year, down from $22.6 billion in 1980. Gaddafi is forging ahead anyway, paying his bills on time and urging Libyans to make greater and greater sacrifices. "A people that eats imported food cannot be free," he says, as store shelves become increasingly bare because of import reductions ordered to help pay for the project. Special income and sales taxes have been levied on Libyans...
Despite the ample causes for concern, chances are good that the economy will shake its slump and gather new momentum. That was the consensus of the TIME Board of Economists, which met in New York City this month to discuss the outlook. The economists forecast that GNP growth, after adjustment for inflation, will accelerate from an annual rate of .6% in the second quarter to 2.4% in the last half of the year. For 1987 they predict a sturdy, if not spectacular, 3% growth rate. Said Walter Heller, a University of Minnesota professor who was chairman of the Council...
Meanwhile, in the USSR there was no commodities market to slump, and a poor harvest meant that the Soviets were in need of grain...