Word: slump
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...needs all forms of aid to prop up its deteriorating economy. Inflation estimates run as high as 60%, and nearly half the labor force is either unemployed or underemployed. Discontent over the inability of the military regime of General Oscar Humberto Mejía Víctores to reverse the economic slump and doubt that a civilian government may be able to do much better have revived support for the country's leftist guerrillas. "There are many people in this country living in misery," says Benedicto Lucas García, a retired general and former Chief of Staff who directed a ruthless anti...
...July, putting it just 1.4% above its level of a year ago. The Commerce Department said that the combined total of business sales at the retail, wholesale and manufacturing levels was down 2.1% in June. It was the second-largest one-month decrease ever, exceeded only by a 2.8% slump in March. Homebuilding, meanwhile, was off 2.4% in July. That drop was somewhat mysterious because economists had expected that recent declines in mortgage rates would give a boost to housing...
...Negative, was a murder mystery in which the only witness to a crime was a toddler who had not yet mastered standard speech. The story's amateur detective was a philologist who unmasked the criminal when he cracked the child's babbled code. Carkeet's next novel, The Greatest Slump of All Time, told of a major league baseball team whose polyglot members one by one lapsed into clinical depression. Although they kept winning, they doubted the value of victory when it failed to make them happy, and found themselves facing mid-life moral crises while still in the first...
...most talked-about slump of 1985 was in home computers. Sales dropped to an estimated 2.3 million from 1984's 3.3 million. Companies that had rushed to market with new products were violently shaken out of it. Coleco dropped its Adam computer in January, and IBM stopped production of its PCjr in March. Even so, sales of the more powerful personal computers used in business continued to grow, and demand for some very large units boomed. IBM's long-awaited new mainframe machine, which had been nicknamed the Sierra, costs about $5.5 million, but it still sold so briskly that...
Control Data (estimated 1985 sales: $4.9 billion) faces daunting problems. The company's computer operations have been hit by an industry-wide slump and intense Japanese competition. The twin setbacks have pushed the firm into deep financial trouble. Control Data lost $270 million during the first nine months of 1985, and the red ink could easily pass $300 million for the entire year. To help repay bank loans on which it defaulted last summer, the company is selling Ticketron, its electronic ticketing service, and other operations. An earlier attempt to raise badly needed cash by selling Commercial Credit, Control Data...