Word: timbers
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Dates: during 1980-1989
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...once familiar and novel, the chapel was built for wayfarers rather than a resident congregation. No larger than a tall barn, it stands at the bend of a wooded trail, high in the Ozark Mountains. An almost transparent structure of mostly timber and glass, it seems to be one with the surrounding woods and rocks. The chapel's architect, E. Fay Jones of Fayetteville, Ark., who studied with Frank Lloyd Wright, describes it as a kind of reversal of gothic cathedral architecture. The trusses inside the structure form a repetitive, rhythmic lattice pattern as evocative as a Bach fugue...
...year. Instead, the rate dipped to 7% in July, but then began climbing again as the economy started to buckle, partly because of high interest rates. The exorbitant cost of borrowing especially plagued the automobile and construction industries, which in turn affected their suppliers, such as steel, rubber and timber firms. With orders down, layoffs of workers spread...
...that can be used only to settle bills within the Soviet-bloc Council for Mutual Economic Assistance (Comecon), some of it in hard currencies that can buy goods or pay debts in the West. But the Soviet Union also supplies its allies with oil, natural gas, iron ore, cotton, timber and other commodities, all at prices below those prevailing on world markets. In exchange, the Kremlin buys Czech shoes, Polish machinery and Rumanian textiles that are too poorly made to sell in the West. According to Jan Vanous, a specialist on Soviet-bloc economies at the Wharton Econometrics Forecasting Associates...
Indonesia has failed to diversify its exports away from raw materials and has been hurt by falling prices for timber and rubber. The country relies on income from oil exports, but its petroleum reserves may be exhausted within 15 years...
Industries that provide materials to the automakers and homebuilders are also in serious trouble. Steel companies have idled about 50,000 employees, and the rubber industry has laid off some 10,000. The timber business has toppled. In Oregon alone, 22,000 lumber workers have lost their jobs. Governor Victor Atiyeh has declared the industry to be in a "state of emergency" in an effort to qualify local businessmen for federal relief loans...