Word: trims
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Dates: during 1980-1989
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...they would accelerate their cost-cutting campaigns. Noting that some people may now decide to put off the purchase of a car, Chrysler Chairman Lee Iacocca announced that his company would speed up previously planned efforts to reduce its payroll. Iacocca intends by the end of the year to trim 3,500 white-collar employees from Chrysler's salaried work force of 38,000. In addition, the company will suspend production at an assembly plant in St. Louis for two weeks this month and will cancel plans to produce the Allure coupe. At GM, Chairman Roger Smith said the company...
...killing stunned residents of the blue-collar community, where many were unaware that a drug problem existed. "Ours is no worse than other towns, certainly not as bad as Dallas," said School Counselor Perry Elkins. At the trim pebblestone school, where short skirts and exposed shirttails are banned, only four students have been dismissed for drug use in four years, and a surprise inspection with drug-sniffing dogs last year turned up nothing...
...budget has become increasingly hard to trim as the outstanding federal debt ($2.37 trillion) has mounted, since interest payments on old borrowings are crowding out other items. Net interest outlays increased from 9% of the budget in fiscal 1980 to 14% in 1986, or $136 billion. Such uncontrollable expenditures, along with the Administration's determination to spare large categories like defense and Social Security, have forced budget cutters "to work in an impossibly small corner covering only 30% of the spending total," observes TIME Correspondent Lawrence Malkin in his recent book, The National Debt. A frustrated Pete Domenici, chairman...
...crash: "You sell and get what you can and never again listen to Ronald Reagan." M.I.T. Professor Robert Solow, who was awarded the Nobel Prize for Economics last week, took the occasion to criticize Reagan's long, obstinate resistance to tax increases thought necessary by many to trim the budget deficit and thus restore confidence. The President, said Solow, "is holding the Congress back from slow access of intelligence...
...Trim defense spending. Since no one thinks that America's 2.1 million soldiers and sailors are overpaid, scrutiny should be focused on the 50% of the nearly $300 billion defense budget that goes for hardware, operations and maintenance. What deserves even more attention than the notorious price gouging by defense contractors on spare parts (one toilet seat: $750) is the wasteful proliferation of large-scale weapons systems. A raft of new, expensive hardware is coming out of research, ready to go into production. One package of eight strategic systems (total cost: at least $250 billion) includes the Stealth bomber...