Word: boom
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Several experts argue that the frantic pace of gulf development would have slowed even without the current recession. "We were saturated with buildings and offices," says Riyadh's Toaimi. Adds a banker whose firm has helped finance Saudi projects: "Construction will never see a boom like the one we had here in the ten years since 1973." That, in the view of many Arabs, is probably for the best. "We did not have time to think about what we were doing," concedes Yousef Shirawi, Bahrain's Minister of Development and Industry: "Perhaps this pause will be very good...
...Mason, chairman of the university's task force: "We couldn't stay locked in an ivory tower at a time like this." The workers, for their part, welcomed the helpful meddling. GM had bought the former textile mill in 1977, at the height of the new-car boom. But sales began a four-year slump in 1979, and in August 1982 GM announced it would close the factory unless local managers and workers could eliminate $2 million a year in losses. Tuscaloosa employees suggested 100 ways to cut costs, yet the total savings fell $500,000 short...
...clear to everyone that they were going to go into the computer business," an uncharted territory for BBN. While the computer division did not turn a profit until 1982, its early contracts have been encouraging, yielding a major deal to develop the MCI Mail communications system along with a boom in computer contracts with the Defense Department. Last year, approximately 80 percent of the firm's $85 million sales came through government agreements...
...well below the mid-1970s peak of 1.25 million) while the number of advertising pages has soared from 535 in 1981 to 1,312 in 1983. Two major reasons for the upsurge: Editor Moffitt's success in appealing to affluent fellow members of the baby-boom generation, and a series of service-oriented features that openly tie editorial content to ads. The November issue's 68-page section on bars and drink recipes, for example, includes 23 pages of full-color liquor advertisements...
Little more than a year later, the boom has gone bust. ABC canceled its late-night effort and may trim the expanded 60-minute Nightline back to half an hour. CBS has reduced its Nightwatch to two live hours plus repeats, and last week announced further on-air staff cuts. Also last week, the ax fell on the best of the shows, NBC'S Overnight, which drew 1.5 million households a night but lost $10 million. Said Executive reducer Deborah Johnson: "Apparently cable is no longer viewed as such a threat " Explained Frank: "Overnight was our finest hour...