Word: minicrash
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...business that thrives on mystery and superstition, Wall Street has good reason to be wary of this particular month. Six of its nine biggest one-day declines occurred during October, including Black Monday in 1929 and the Roaring Eighties crash of 1987. The last major collapse, the minicrash of 1989, also took place in October. While some traders suspect goblins, others blame more mundane forces. One is the so- called calendar effect, which is the result of October being the month when many corporations revise summertime earnings forecasts. Often those projections turn out to have been too rosy, forcing companies...
...they can contain the cheating." Although industry analysts believe De Beers will weather the crisis because it has deep pockets and rich affiliates, investors are not convinced. When the company abruptly announced the likelihood of a 25% dividend cut in August, its stock fell nearly 15% and triggered a minicrash on the Johannesburg Stock Exchange...
While he has so far seemed unstoppable, Bloomberg may be coming into a vulnerable period. The financial-data industry, which grew at the breathtaking rate of 20% a year during the bullish 1980s, has slowed down. Since the stock- market minicrash in October 1989, demand for computerized business data has grown a tame 5%. A subsequent shakeout has already claimed some weaker firms, such as Bunker Ramo, GTE Financial and Pont Systems, through mergers and failures. To remain viable, survivors must invest heavily in the next generation of information technology. That could spell trouble for small outfits like Bloomberg, says...
...three years, United's employees have mounted one scheme after another to buy the airline, sending the stock bouncing as high as 290 and as low as 53. The collapse of a $6.8 billion buyout attempt last October triggered a stock- market minicrash. In April, United's board tentatively accepted a $4.4 billion deal proposed by the airline's employees. But last week, as an Aug. 9 financing deadline approached, several major banks withdrew from talks with United's would-be owners. One apparent concern: the ability of the employees to handle the huge debt involved. As the banks stepped...
...miracle. To experts who track technological mishaps, the past decade reads like an unending parade of computer disasters, ranging from the humiliating bugs that delayed one space-shuttle launch after another to the Belgian stock-exchange computers that collapsed under the rush of sell orders during last October's minicrash. Computerized elevator doors have shut unexpectedly. Factory robots have started without warning, killing workers. A misprogrammed medical X-ray machine delivered fatal doses of radiation to at least three cancer patients...