Word: slump
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...story on the global slump [July 19], your economists did not stress the fact that huge expenditures on arms around the world, except in Japan, are absorbing the productive capacity of nations. President Reagan is right about cutting domestic spending: the upward spiral had to be stopped. But replacing it with an arms race is madness...
...good, if rudely phrased, question that more and more casino operators are asking themselves. The answer: very few. In the past year, most of the 36 major Vegas casinos, hit by the economic slump like nearly everyone else, have done some simple arithmetic: they can put on a flashy revue, with a whole troupe of dancers, magicians and comics, for less than they pay one star...
Joseph Papp's Public Theater, where Von Richthofen is housed, has been in a serious dramatic slump for the past two seasons. Surely, the one way not to soar again is to jettison sense, taste and judgment. -By T.E. Kalem
Even as some Administration officials cited signs that the recession may be nearing an end, new government statistics were measuring the toll the slump has taken. The Labor Department reported last week that one out of every five American workers, or 23.4 million people, were out of work during part of 1981; that is 2 million more than in the previous year. The Census Bureau also noted that 32 million Americans, or 14% of the population, lived below the poverty line in 1981 ($9,287 for a family of four), the highest poverty rate since 1967, when...
...make a profit during the current quarter. Declining passenger traffic and cut-rate fares pushed income down for other carriers. American Airlines saw earnings tumble 98% to $466,000; Trans World Corp. posted a 27% decline to $41.6 million; UAL, Inc., parent company of United Airlines, suffered a 36% slump to $5.5 million; and Delta saw profits shrink 52% to $23 million...