Word: slump
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Dates: during 1980-1989
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...events demonstrated the shaky state of consumer confidence in banking and sparked demands that all deposit-taking institutions be federally insured. Most of all, Maryland's crisis raised doubts about the overall health of the savings and loan industry, which is attempting to recover from a six-year slump. Said Willard Butcher, chairman of Chase Manhattan Bank: "We have the potential for a very serious thrift crisis in this country...
Since 1980, the thrift industry has been struggling to pull out of a slump caused by an interest-rate spiral that peaked with a prime rate of 20.5% in 1981. Competitive pressure forced the thrifts to pay 10% or more to bring in deposits, but their income remained far below that level because it was largely dependent on old, fixed-rate loans paying interest rates...
...which her Conservatives took a severe drubbing from the Social Democratic/Liberal Alliance. Then came a dark cloud of budding insurrection from within the Tory party, and finally the thunderclap of a new Gallup poll that showed how far the Conservatives have fallen. For the first time since their slump preceding the Falklands war in 1982, the Tories ranked third in a poll, trailing, at 30.5%, behind Labor's 34% and the Alliance...
While Ueberroth believes that "the huge majority of players are just as clean as they can be," he knows that the shadow of drug abuse is so pervasive in athletics that it has become one of the first theories for every slump. "If I was a major league baseball player, I'd want to take the test," he says, "to remove any doubt. One minute three or four times a year would not be the end of the world." The role that cocaine played in the Tulane University basketball team's recent gambling scandal made an impression on Ueberroth...
...suppose, says Weitzman, that workers agreed to accept a share of the company's revenues or profits--two-thirds, for example--as compensation in lieu of set wages. That money would be divided among all employees. When revenues dipped during a slump, workers' income would drop accordingly, and the firm could then reduce prices to revive sales. Because all the workers take a temporary cut, no one would have to be laid off. The burden of the recession would be shared by the entire work force...