Word: slump
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Still, the main source of all this turbulence has been the advertising- indust ry slump -- attributed to soft markets in cigarettes and automobiles. The downturn has robbed the big consumer "books" of 3.5% of their ad pages in the first quarter of this year and underscored the glut of consumer magazines on the market. Even such industry stalwarts as Business Week, Newsweek, PEOPLE, SPORTS ILLUSTRATED, TIME and TV Guide have been affected, sharing in the ad-page losses for the first quarter, however healthy their circulations. (Circulation typically provides half of a magazine's revenues...
...envelope, please. And the winner for biggest Broadway success of the year is . . . the box office. During the 1989-90 season, which ended last week, receipts at Broadway's 36 stages reached a record $283 million, up 8% from last year and 48% from the depth of the slump in the mid-'80s. The past season featured the Tony Award-winning musicals City of Angels and Grand Hotel, along with many major stars, including Dustin Hoffman, Kathleen Turner and Tyne Daly...
...amazement among Trump watchers, who only four months ago had savored the melodrama of his separation from his wife Ivana and his affair with the model Marla Maples. The distress of Donald, the biggest self-promoter of the past decade, was too poetic to resist. TRUMP IN A SLUMP declared the New York Daily News. UH-OWE! said the city's Post, which dubbed Trump's new casino "the eighth blunder of the world...
Officials are concerned worried that a sharp reduction in lending could jolt the U.S. economy into a slump. Such fears were underscored last week when the Government reported that the gross national product grew at an annual rate of just 1.3% in the first quarter, down from a previously estimated 2.1%. Coming on top of a dreary 1.1% growth rate in the last quarter of 1989, the revision indicated that the 7 1/2-year-long U.S. expansion could be in deepening danger of groaning to a halt...
...houses' own credibility as well, Marion says, "Anyone can say anything they like." But art dealers, who have lost much of their business to auctions in recent years, are not immune to schadenfreude. Lawrence Rubin, for instance, head of New York's M. Knoedler & Co. gallery, sees "a slump self- induced by the auction houses. Over the past three years, they have simply doubled their price estimates regardless of what the thing might really be worth. You can't go on jerking up prices relentlessly like that without real clients ready to pay them, and clearly they...