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...arduous. Any quick moves to provide eco-nomic shock treatment would probably only result in another round of inflation. The two sickest sectors of business, housing and autos, do not appear to be near immediate recovery. Guest Panelist Marina Whitman, chief economist for General Motors, forecast a modest pickup in car sales during the summer and then stronger sales after the introduction of new models in the fall. Much of the increase is likely to come from customers seeking small, fuel-efficient cars. Washington Economic Consultant Robert Nathan pointed out, though, that since Detroit's production capacity for such...

Author: /time Magazine | Title: Business: Recession: Long and Deep | 6/16/1980 | See Source »

...toward the peak, still shrouded in clouds of steam and ash. The mocha-colored terrain appeared otherworldly, a madly undulating landscape. The trees looked as if they had been strewn across the foothills by a careless child. As we passed over Baker Camp, a logging base, we spotted a pickup truck, a dead child lying face upward in the back. Ward swung the Huey over a huge mudhole that had once been Spirit Lake, a body of water so clear that it mirrored St. Helens like a reflecting pool, then did slow loops around another pickup truck on a nearby...

Author: /time Magazine | Title: God I Want To Live! | 6/2/1980 | See Source »

...abutment. A 1,300-ft. stretch of roadway trembled violently, then ripped away from the bridge. Steel and concrete crashed down, some of it landing on the freighter's bow. A Greyhound bus carrying 23 people plummeted 140 ft. into the water, along with three cars and a pickup truck...

Author: /time Magazine | Title: Nation: What a Horrible Sight! | 5/19/1980 | See Source »

...only survivor of the fall from the bridge was the driver of the pickup truck, Wesley Mclntyre, 56, of Gulfport. His truck first hit the Summit Venture and then bounced into the water. Recalled Mclntyre of his miraculous escape: "The bridge was swaying. I could see the ship, and the end of the bridge was breaking off. I couldn't stop. I just slid, and then I hit the ship and dropped into the water. The next thing I remember I was in the water, and I managed to get the door open. I started swimming to the surface...

Author: /time Magazine | Title: Nation: What a Horrible Sight! | 5/19/1980 | See Source »

Until the new smaller cars from Detroit's Big Three arrive, the American auto picture will remain gloomy. Ford's North American auto chief, Harold ("Red") Poling, says pessimistically: "The outlook is not good. In 1981 there will be some pickup but not a big one, and there is some chance of resurgence in 1982 or '83. I think we are going to be going through a very tough period." With management and assembly-line personnel slashed, the dealer base eroded and consumer loyalty dissipated, it may be another few years before spring blooms again in Detroit...

Author: /time Magazine | Title: Business: Autos Hit 40 Miles of Bad Road | 4/28/1980 | See Source »

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