Word: troughs
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...bull market has a father and protector, the honor can be claimed by Federal Reserve Chairman Paul Volcker. When the Dow hit a trough of 776.92 in August 1982 and the economy seemed hopelessly trapped in a recession, Volcker and his colleagues at the Fed were convinced that interest rates had to come down. No sooner had they loosened monetary policy than investors came storming back into the market. And as interest rates kept falling, the bulls kept buying. By November 1983 the Dow had reached a high of 1287.20. For the next year, the index more or less stagnated...
Specifically, TIME's economists estimated that growth in the U.S. GNP will rise from a trough of 2% in the second quarter to 2.5% in the second half of this year. In 1987, however, they expect the rate of expansion to dip again to ( 2%. Western Europe is likely to have stronger growth: 3% this year and 3.5% in 1987. As usual, Asian nations are expected to be the top performers. Japan, for one, will come roaring out of its doldrums, boosting growth from 1.8% this year to 5.7% in 1987. South Korea's economy will surge a spectacular...
Also, by today, every suite is scheduled to have a new plastic trough screwed on the front door to receive Harvard Student Agencies advertisements, flyers, newspapers and other material that clutter up Kirkland's corridors...
...discovery showed researchers how they could dispense with prerecorded templates. Now they could program their computers to identify the shapes and patterns that Zue had recognized in the spectrograms. That immediately made the machines more versatile. Rather than trying to match every peak and trough in the wave forms of someone's voice, they could search for only those acoustic features that are universal in certain words, no matter who speaks them. Advanced word-recognition systems using this technique are already in the hands of the National Security Agency, the top-secret Government bureau that monitors global communications networks. Eavesdropping...
Thanks in part to less Japanese competition, Detroit's automakers climbed out of the grim trough of recession. They earned profits of $9.8 billion in 1984, vs. a loss of $4.2 billion in 1980. Last year the carmakers' sales rebounded to 7.9 million cars, vs. a paltry 5.7 million in 1982. In his announcement, the President complimented Detroit's automakers on their "improved performance." Allowing the Japanese controls to come off seemed to make no sense to most Detroit auto executives. Said Chrysler Chairman Lee Iacocca: "This is a sad day for America--for American workers and American jobs...