Word: stockings
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Dates: during 1980-1989
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Even October's stock-market crash and the cloudy economic outlook have so far failed to dampen the industry's robust bookings, which reached $5 billion in 1987. One reason is that travelers no longer view cruises as an extravagant expense. Because many passenger lines are trying to lure more first-time, middle-class customers, prices have moderated in comparison with other types of vacations. Besides the traditional luxury cruises that cost a daunting $400 to $600 a day, many lines offer so-called contemporary excursions that run about $140 to $220 (including meals and activities...
...vodka martini, though spurned by purists, is now the most popular drink in the nation's capital. Its appeal has helped boost vodka imports from 51,000 gal. in 1976 to 5 million gal. today. At Bloomingdale's in Manhattan, Buyer Susan Davis cannot keep martini sets in stock. "I'm telling all manufacturers to get busy," she says. "We can move as many as they can make...
...ahead for 1987 as a whole. According to an independent study by Lipper Analytical Services, investors who have been in Magellan for three years have earned 68% on their money as of the end of November. Over the same period the Standard & Poor's Index of 500 stocks has gone up only 56.7%, and the average stock fund has risen...
...wary about what will happen to the market. He does not foresee a recession yet, but is fearful of the plunging dollar. "If the dollar declines from here," he says, "it will probably accelerate our inflation and persuade the Europeans and Japanese to stay out of the U.S. stock market." Lynch also frets that the market is at the mercy of sophisticated, new computerized trading techniques that sometimes run out of control. Says he: "Program trading, portfolio insurance, stock options and index trading accelerated the crash. Without them, instead of an 508-point decline, we might have...
Lynch remains convinced that America is returning to competitive shape. To abandon the stock market now would be to lose faith in those bustling factories, offices and stores he inspects every week. He believed in the long- term value of U.S. companies before the crash. He still does...