Word: unsold
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...American farmers discard millions of pounds of potatoes that are too unattractive to send to market. Why can't this otherwise good food be distributed to the needy? That's what Ken Horne, 42, and Ray Buchanan, 40, asked themselves in 1983. The two Methodist ministers began to collect unsold potatoes from local farmers and distribute them to food centers. Since then, the Potato Project has sprouted in 47 states and has shipped a total of 56 million lbs. of spuds (the equivalent of 165 million servings) to 250 anti- hunger agencies...
...last week, the result was an enormous bust. In the wake of Black Monday, BP shares already on the market were trading well below the $5.68-a-share issue price of the new offering, and investors therefore shunned the new $12.2 billion flotation. Underwriters were stuck with millions of unsold shares, and could face losses totaling $1.7 billion. Earlier, British, U.S. and Canadian financial institutions had pleaded with British Chancellor of the Exchequer Nigel Lawson to postpone the event. But Lawson chose to forge ahead, adding a concession: for the next month at least, shareholders who want to cut their...
...measure -- the gross national product of goods and services -- the U.S. expansion is still moving forward. For the first three months of the year, GNP increased at an annual rate of 4.3%, the largest quarterly gain since 1984. While that surge partly reflected a rise in the production of unsold goods that will probably not be repeated in the second quarter, it was welcome news. The employment statistics provide further evidence of the economy's momentum. In April the jobless rate fell to 6.3% of the work force, down from 6.6% the previous month...
...some good economic news last week. The Commerce Department reported that the U.S. economy, which grew at a sluggish 2.5% rate last year, expanded at an annual rate of 4.3% for the first three months of 1987. But the seemingly strong showing, largely due to an increase in unsold goods, may be reversed in the second quarter. If so, U.S. officials will feel even more pressed to find a resolution to the troubling trade issues...
...office building in Houston, 80% vacant, was foreclosed on and sold at auction. A swanky housing development, Triple Crown condominiums in Ruidoso Downs, N. Mex., is the target of a foreclosure suit. More than a quarter of the 212 lots in Austin's plush estates of Barton Creek sit unsold. A creditor has sued to foreclose on four shopping centers; a fifth has already been lost...