Word: setbacks
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...current troubles represent a severe setback for Pinochet's attempt to make his country a laboratory for the monetarist economic theories espoused by University of Chicago Nobel Laureate Milton Friedman. Guided by advisers known as the "Chicago boys," Pinochet revamped economic policy, which under Allende had led to 600% inflation and riots over food shortages. He sold 400 ailing state-owned companies, ended price controls and most state subsidies, and encouraged foreign trade by slashing import tariffs from almost 100% to an average of 10%. The resulting economic boom encouraged most Chileans to overlook Pinochet's repressive campaigns...
Wall Street's bull market suffered a temporary setback last Monday, when the Dow Jones industrial average plunged 21.87 points, its steepest slide in almost two months. Later in the week, though, the market charged back smartly and closed at 1232.59, another record high. The short-lived sell-off was sparked by Barton Biggs, 50, chief portfolio strategist for Morgan Stanley & Co., the Manhattan investment banking firm that handles $7 billion in investments for clients, including about $5 billion from Kuwait. During a routine Monday-morning planning session, the gist of which was flashed to Morgan's clients...
...setback for nuclear power...
Nevertheless, industry representatives viewed the ruling as a setback but not a disaster. "It's not a new power," said Carl Goldstein, spokesman for the Atomic Industrial Forum, the trade group for the nuclear industry. "The Supreme Court just reaffirmed the states' traditional authority over economic issues." Said Russell Hawkes, spokesman for Southern California Edison Co., which, with Pacific Gas and Electric Co., brought the original lawsuit: "The decision sets an unfortunate precedent. But it has no immediate impact on our company." Neither utility has plans for new facilities in this decade; none of the state...
...Radcliffe sailors, winners of their previous four regattas, suffered a setback over the weekend in their attempt to reach the nationals...