Word: slump
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...good news first: during the vacation, the Harvard hockey team snapped out of its two-game mid-December slump, crushing Princeton at Bright Center and taking two of three at the Jeno Tournament in Duluth, Minn., outscoring its four opponents...
...effort to get IBM out of a slump that had hit it in the late 1970s, Opel soon started shaking things up. The company began opening retail stores, not only to sell such staples as electric typewriters, but also to position it for a move into the fast-expanding personal computer field. In 1980 top management secretly gave the go-ahead to an engineering team, cloistered at a plant in Boca Raton, Fla., to begin designing a small computer (the project was code-named Acorn). Twelve months later, the PC was rolling off the production line. Breaking with tradition...
Most ominous, the U.S. slump is only part of a worldwide pattern of malaise. In the European Community, more than 11 million people, or 10.3% of the work force, are unemployed. Developing nations from Africa and Asia to Latin America are staggering under a $626 billion foreign-debt load. A string of near defaults on loans to Mexico, Argentina and now Brazil (see box) has rocked the international monetary system...
Over the past several years, almost no business has grown faster than video games, but last week stocks of most of the industry's highflying participants came crashing down with a thud. Warner Communications, owner of Atari, the king of video games, unexpectedly forecast a slump in fourth-quarter earnings. The news reverberated through Wall Street. Analysts began recalculating profit estimates of the best-known games manufacturers, trying to divine whether the Atari setback had more cosmic implications. By week's end no one was quite ready to declare that the stock market was flashing a bleak "Game...
Worse, financial experts like Rimmer de Vries, chief international economist for Morgan Guaranty Trust Co., are worried that a further slump in prices would gravely aggravate the already large financial problems of such debt-ridden oil-exporting nations as Mexico and Nigeria. Together, the two nations have borrowed at least $90 billion from foreign lenders. A gentle price decline, as opposed to a nosedive, would not be disastrous, since lower oil prices translate into lower worldwide inflation and thus lower interest rates for debtors...