Word: surplus
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America's skylines once stood as stirring symbols of progress and prosperity. Yet in many cities the glass-and-steel monuments have now come to represent wretched excess. During the past five years, U.S. developers have constructed a breathtaking surplus of office towers, condominium complexes and hotels. In Los Angeles, a rusting, 17-story framework of steel girders on Wilshire Boulevard has stood idle for three years because of collapsed condo prices. Denver's tallest building, the 56-story Republic Plaza office tower, is only half rented despite such amenities as a concierge, an Italian-marble lobby, a car wash...
...most widespread surplus plagues the office-building market: more than 16% of total space is empty, compared with 3.5% in 1980. The vacancy rate continues to rise, in part because the building of offices is running 50% ahead of the growth in white-collar employment. Among the first cities to be hit by the glut were Denver and Houston, where demand for office space collapsed because of the downturn in the oil and gas industry. Hapless developers wound up with rows of "see-through buildings," thus named because they have so few occupants and interior fixtures. The developers of Houston...
Until last year, departments that had not used up their entire budget were allowed to save the surplus funds and use them for special academic functions...
...University’s revenues and expenses both rose about 5 percent to $2.6 billion, producing an operating surplus of $37 million...
...strikes me as morally repulsive and intellectually absurd that people die of want in a world of surplus." SIR BOB GELDOF, Live Aid founder, announcing details of Live 8, a staging of five free concerts to be held simultaneously around the globe on July 2 to raise awareness of poverty in Africa...