Word: 80s
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...boom-and-bust '80s may be history, but the banking rough-and-tumble is + now more pronounced than ever. In the U.S. the battered industry is selling assets to recapitalize itself after the debacles of Third World debt, the decay in value of high-risk junk bonds used for corporate buyouts and the collapse of the real estate market in several sections of the country. The mighty Japanese, now far and away the world's biggest banking players, are also being squeezed. Japanese banks face rising interest rates that boost their costs at home and new international capital-reserve requirements...
Things have gone so far that getting your home featured in Architectural Digest, an honor to die for in the '80s, is considered tacky. After all, most of the homes are not so much designed as crammed with very expensive clutter. Interior decorators are outre, and making slipcovers and clothes for the children seems to be gaining favor. Fabri-Centers of America, a chain of 620 fabric stores in 35 states, reports that earnings have grown 72% in the past year, from $5.1 million to $8.8 million, while revenues are up 15%, to $333 million. Chairman Alan Rosskamm attributes...
...chances of doing business abroad. Frenetic consumers who spent much of the decade trying to have it all and wondering how to deal with the resulting stress may find unexpected serenity in their backyards. A touch of the tightwad is a much needed correction after the excesses of the '80s...
...national parks this year will be what rangers call "windshield tourists," who rarely leave their cars to enjoy the sights. Those who hope to camp out amid the natural splendors during the summer high season are best advised to book well in advance. Since the early '80s, the National Park Service has sold campsites ($7-$15 a night) in 13 of the most popular parks through the Ticketron reservation service. So great is demand at Yosemite that the 200-plus daily openings, which go on sale eight weeks in advance, are snapped up in less than five minutes. Even bicyclists...
BUSINESS: Bye-bye, '80s; cheap is back in style...