Word: slump
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...toast of Texas, a relentless raider who could outwit all those corporate bigwigs back East. Lately, though, Pickens' lone star seems to have fallen. His efforts to take over Homestake Mining, a leading gold producer, and KN Energy, a natural-gas company, have fizzled. Because of the continuing slump in the oil patch, profits at his Mesa Limited Partnership have dropped from $70.6 million in 1986 to $31.9 million in 1987, a performance so poor that Pickens has had to borrow money to pay dividends...
With the defense-industry slump expected to linger for at least the next few years, companies that have been hedging their bets by diversifying are likely to fare better than those that remain heavily dependent on a few projects. Loral has moved more aggressively into sales of the sophisticated defense electronics that have been relatively immune to budget cutting, while Lockheed is working on rocket motors for future space shuttles. But the companies that supply instruments of war to the nation's generals and admirals fear that the latest scandal will prompt a series of excessively restrictive new laws that...
...orders it has received have come from European customers, while Piaggio says it will sell 60% of its planes in North and South America. By some estimates, fewer than 8,000 corporate aircraft are in use today worldwide, but the industry is coming out of a decade-long slump, and there may be a backlog of pent-up demand...
...industry may be mired in a three-year slump, but Big Oil still thinks big. Convinced that crude prices will rise again and anticipating a major new pool of natural gas, Shell Oil last week launched "Bullwinkle," a lighthearted name for the tallest ever offshore oil-drilling and -production...
...ballplayer," he would later write, "a slump is a plague -- second only, perhaps, to the black death. And he is convinced that it is an evil designed just for him. I thought so too, until recently. After a game one night, an old friend -- a salesman -- dropped by for a visit. 'How's business?' I asked. 'Fine -- for everyone but me,' he moaned. 'I don't know what's wrong. I'm working just as hard as ever but selling nothing. It's gotten so bad that I'm convinced I won't make the sale even before I walk...