Word: slowdowns
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Dates: during 1990-1999
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...were closed or crippled. The plants assemble cars on which GM is banking heavily, such as the Chevy Lumina and Pontiac Firebird, as well as the popular Chevy Suburban and Blazer sports utility vehicles, says TIME Detroit bureau chief William McWhirter. If the strike continues into next week, the slowdown will spread to Chrysler and Ford -- further putting pressure on GM to settle the strike. But McWhirter does not expect it to go that far. "Both sides are negotiating in good faith," McWhirter says. "This is not going to be the match that lights up a huge labor confrontation...
...panel members predicted that exports of everything from cars to computers will help keep U.S. jobs growing next year. That will be important to take up the slack created by the slowdown in housing construction as mortgage rates have climbed. The economists had little doubt, moreover, that foreigners are becoming very big buyers of American goods. "Most U.S. companies," said Jasinowski, "think their biggest growth opportunities are abroad...
...rising prison populations. So states, he thinks, will have to either cut other services or raise taxes again, or both. Vermont Governor Howard Dean, chairman of the National Governors Association, thinks momentarily flush states should put money into contingency funds to cushion the effects of the inevitable next slowdown. "But the legislators can't keep their hands off," he laments. His legislature, against liberal resistance, brought taxes back down to pre-1991 levels, forcing Dean to "cut ((spending on)) all kinds of things from education to welfare" -- an indication of how difficult tax-cut pressure is to resist...
Meanwhile, the separate bitter dispute between Los Angeles and its police force over new contract terms intensified when hundreds of L.A. police staged a slowdown by calling in sick...
Although leaders of AT&T, General Motors and other corporate giants expressed little fear of a slowdown during a business conference last week, higher interest rates have already begun to hurt some industries. With the Fed's moves helping to drive the interest on 30-year, fixed-rate home mortgages from 6.7% in October to 8.7%, builders have lowered their estimates for 1994 housing starts by 4%. At the same time, the flood of mortgage refinancings that put hundreds of millions of dollars in homeowners' pockets has all but dried up, closing off a valuable source of extra cash...