Word: surplus
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Dates: during 1970-1979
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...little that the Government can do to ease the fluctuations of the ten-year beef production cycle. One stopgap measure that President Carter is now considering would be to relax import restrictions on foreign beef in order to increase supplies at meat counters. Since there is presently no world surplus of beef anyhow, lifting restrictions would probably bring in no more than 250 million Ibs. of beef on top of the 1.3 billion Ibs. that the nation already imports from Australia, New Zealand, Canada and ten other countries. That would trim perhaps only a nickel a pound off the price...
Savage is not alone in this point of view. As ETS continues to grow, and its "surplus funds" (it enjoys non-profit status) expand beyond the million-dollar mark, the legitimacy of standardized tests is being challenged from a variety of sources. The Bakke case raises serious questions about standardized tests--regarding the kind of information they reveal about a student and the possibility that the tests are culturally biased. The very existence of special admissions programs like the one at the University of California at Davis Medical School, from which Bakke was twice rejected, is based in part...
Volvo's troubles are symptomatic of the ills and abuses that are rendering Swedish companies uncompetitive on the world market, yet, despite the advent of a more conservative government, Sweden remains fully committed to the welfare state. Unable to lay off surplus workers or curb ruinous absenteeism (sometimes as high as 20%), Volvo saw its operating costs soar. Once noted for well-built, moderately priced autos, Volvo was forced to increase its prices until its top-of-the-line 264GL, at $10,500, is nearly as expensive as a Cadillac Coupe De Ville. Volvo sales have slumped globally...
...Nearly half a million barrels of Alaskan crude, which oilmen had originally figured would go to the West Coast, are rerouted daily through the Panama Canal to the Gulf or East Coast ports at additional costs of more than $1 million. And although independent California oilmen are protesting a surplus that has forced them to close, or "shut in," some wells, the West Coast continues to import 400,000 bbl. a day from Indonesia...
Edison has not yet agreed to accept this gift horse. Even if the Sohio project is approved soon, it cannot accommodate all the West Coast surplus, or even begin to ease it, before 1981. Only a dramatic readjustment in complicated Government oil-pricing policies, freeing the market from entitlements, will solve the basic problems facing shut-in California producers and energy-hungry East Coast consumers...