Word: spiral
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Dates: during 1980-1989
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...energy was prodigious. While her husband was in law school, she picked up a master's degree in education from Bowie State College in Maryland. Expecting her first child, she started to keep a diary in a spiral notebook, recording doctor's appointments, visitors, the deeds of the family cats. "This was my history for my children," she said. "I would have loved to know my mother's life that way." She threw herself into community work, leading a Girl Scout troop, working in day-care units and raising money for the local hospital. Teaching full time...
Last week Sheik Ahmed Zaki Yamani, the Saudi oil minister, issued a stern warning. Without a new agreement to curb production, Yamani said, "there will be no limitation to the downward spiral that may bring crude prices to less than $15 per bbl., with adverse and dangerous consequences for the whole world economy." The threatening words pushed prices into a free fall. North Sea oil dropped to $17.70 per bbl. before recovering a bit to finish the week...
More recently, labor costs grew too quickly. While Pan Am and United have withstood expensive strikes in order to win cost concessions from their workers, Eastern has kept flying by allowing salaries to spiral upward. Since 1979, in fact, pay for the carrier's employees has risen by 50% or more. One result: Eastern's pilots make an average of $112,535, while their counterparts at People Express are paid...
...basic foods. He also increased salaries for government workers 17%, hiked the minimum daily wage for peasants and industrial workers from $1 to $1.60, and froze rents on low-income housing. But these measures are not likely to stave off labor unrest if the country's downward economic spiral continues...
...moment, though, the market and not OPEC clearly sets the price of world oil. If the cartel tries to roust its rivals by cutting prices, OPEC may set off a downward spiral that it will be powerless to stop...