Word: cutbacks
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...enormous cutback in planting this year under the new federal payment-in-kind (PIK) program may be a bonanza for some farmers. In return for not planting corn, wheat, rice and cotton crops, farmers will receive up to 95% of their normal yield of these commodities free from Uncle Sam's warehouses. This is an economical way for the Government to reduce the cost of storing surpluses, and it should help the farmer by removing the glut that has caused prices to plunge. But where does it leave the marketers of such items as fertilizer and farm equipment, already...
...huge inventories. The DOA projects that PIK will reduce spending for purchases and repair of tractors, combines and other machinery by an additional 8% this year, to $18.2 billion. Says Emmett Barker, president of the Chicago-based Farm & Industrial Equipment Institute, a trade group: "The size of the acreage cutback can't help but be disastrous to many businesses. There is no way that you can take 6 million acres out of cultivation in Iowa, for example, and expect everyone in farm equipment to survive...
According to county officials, an alarming rise in welfare costs, combined with a cutback in both federal and state aid, forced the move. "Our general-assistance case load had increased 55% during the past two years," says Dennis Hart, director of the county's social welfare department. "We had to find a way to do some screening of the people we were getting." The throwback has already spurred a lawsuit and a blast of criticism from Bannon Street residents, lawyers and sociologists. Says Harry Specht, dean of the School of Social Welfare at the University of California at Berkeley...
More than 30% of U.S. industrial capacity now stands idle. As a result, companies are expected to slash real capital spending by 8.5% next year. That cutback almost guarantees that any business recovery will be painfully gradual...
...altogether. In October the Administration, using the controversial ruling as a lever, won concessions from the foreign governments of the producers involved. In the agreement, the overseas governments promised that they would limit their sales in the U.S. to less than 6% of the total market, a cutback of 1¼ percentage points from then current levels...