Word: stockings
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Dates: during 1980-1989
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Meat and dairy groups, which have suffered the most from consumers' withdrawal pangs, are making the biggest efforts to regain public trust. In January the National Live Stock and Meat Board launched a $30 million promotion campaign that it hopes will beef up sales that have been less than bullish since 1976. Back then, Americans' per capita consumption was 94 lbs., & in contrast to 80 lbs. last year...
Smith and his growing legion of clients realize that investments in troubled ! companies may turn out to be worthless. But the prices of such cheap stocks and bonds can surge if the firms get out of difficulty. Only ten years ago, for example, Toys "R" Us, then called Interstate Stores, was wallowing in bankruptcy proceedings, and its stock was selling for as low as 12.5 cents. Today a share of the resurgent toy-store chain goes for more than $38, a 300- fold increase. Windfalls can also be made from convalescing companies like LTV, the giant steel firm that...
...superabundance of financial innovation is another factor reminiscent of the 1920s. During that time, investment trusts and utility pyramids were the rage, while the 1980s has been a boom time for such techniques and instruments as leveraged buyouts, junk bonds and stock-index futures. The common element is vast leverage, which creates the potential for big profits during a booming economy but equally dramatic losses when the tide goes the other...
...tied up in dollars and U.S. Treasury securities. Says Economist John Kenneth Galbraith: "The danger is that we have accumulated under the Reagan Administration such enormous overseas obligations that these could, if liquidated, create a very, very nasty run on the dollar and also a nasty collapse of the stock market." Adding to the jitters about the dollar is the rising level of U.S. inflation. Last week the Government said the Consumer Price Index rose at an annual rate of 5.8% during August. Last year's pace was only...
While a depression is still remote, the euphoric stock market may be headed for a fall when it wakes up to economic problems like the trade deficit. Everywhere, from bookstores to boardrooms, speculations about the financial future fill the air. -- The former chief of the global satellite network heads for prison. -- A leading specialty retailer, the Gap, takes a sudden spill on Wall Street...