Word: slumping
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Dates: during 1980-1989
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Houston, once proclaimed to be the shining buckle of the Sunbelt, has particularly suffered from the pervasive effects of the oil slump. Some 16,600 mortgages were foreclosed last year, more than the previous two years combined, and the pace is quickening. February brought nearly 3,000 foreclosures. Fully 29% of the city's office space sits empty...
...Larry has been in a little bit of a slump," said Fish. "He really seem to go after it today...
Many experts are alarmed about the high level of consumer debt. Warns Gilbert Heebner, chief economist for Philadelphia-based CoreStates Financial, a bank holding company: "Debt problems have the potential to retard economic growth and, at worst, lead to another recession." And if a slump comes, many debt-laden families could sink into insolvency. Says Henry Kaufman, chief economist for Wall Street's Salomon Brothers: "American households as a whole have never been more exposed to a downturn...
...merit-based system also might be unfair to students who, recovering from a freshmen slump, brought their grades up during their upperclass years. A built-in "Horatio Alger clause" would clearly be in order--entitling those with rising grade point averages to bump slumping students from their rooms...
...ship captains will need plenty of patience. Right now the world's fleet of tankers and other cargo vessels is 30% larger than necessary to do the amount of work available. The huge surplus of hulls for hire has put ship owners and builders into their most severe slump since the Great Depression. The battle for business has severely corroded cargo-hauling rates and the values of ships. It costs only about $7 today to move a ton of grain from New Orleans to Amsterdam, in contrast to $17 in 1981. Says Fernand Suykens, director general of the port...