Word: unsold
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...program was immediately overwhelmed by shrinking markets at home and abroad. Because of health concerns, a doubling of the excise tax on cigarettes from 8 cents to 16 cents, and cheaper foreign-grown tobacco, about a quarter of the tobacco grown in the U.S. last year went unsold at auction. The farmers' assessment under the loan program was increased from 3 cents to 7 cents for flue-cured, 1 cents to 9 cents for burley, but that covered only $175 million of the $1.6 billion they borrowed between 1982 and 1984 and are legally obliged to pay back...
...week that November retail sales were up 1.8%. That early Christmas-season gain, the healthiest monthly increase since April, helped allay retailers' fears that holiday buying would be weak. Other key indicators showed that November industrial production grew .4%, the first gain in three months, while stocks of unsold goods remain lean...
...Despite IBM's towering prestige and a marketing budget estimated at $40 million, the PCjr sold as sluggishly as Edsels in the late 1950s. Consumers seemed to be turned off by the computer's toylike appearance and $1,269 price tag. Dealers, stuck with growing inventories of unsold machines, were beginning to panic. Wrote Popular Computing Columnist Steven Levy: "The machine has the smell of death about...
...good times, however, mean additional bargaining chips for the U.A.W. Robust sales and a new industry drive to keep inventories low have resulted in a relatively small supply of unsold cars. Even though GM's assembly plants are producing at close to capacity, the company's supply of cars is only 49 days, vs. a normal 60 days. Dealers are even worse off; many have only enough cars on hand for 31 days of normal sales...
...automaker almost out of gas. The company was slow to convert to fuel-efficient small cars and faced increasingly tough opposition from both the Big Two and Japan; by mid-1979, Chrysler had accumulated nearly $500 million in losses, as well as the industry's largest backlog of unsold vehicles. Chairman Lee Iacocca, hired shortly after being fired as president of Ford, went to Washington with pleas for aid that in December 1979 netted Chrysler $1.5 billion in loan guarantees. The controversial bailout proved to be a good investment. Three weeks ago, Chrysler reported a record $802.9 million...