As a result, the businesses, many of which are cyclical, face tremendous uncertainty, especially in light of their heavy debt loads.
At the start of the 1990s the life-sciences firm was born when drug makers decided to get rid of their chemicals divisions, which were cyclical and low-margin.
These results are in agreement with the NF-κB-activation pattern in most cells, which is cyclical in nature [ 20, 21].
Anaerobic synthesis of LC-PUFA is performed by polyketide synthase (PKS) pathways which are cyclical in nature, with multi-enzyme complexes iteratively performing a series of desaturations and 2-carbon elongations using malonyl-CoA and acetyl-CoA as the source of the carbon units.
"They use an inappropriate starting point, 1989, which was a cyclical peak, thereby ignoring the deep recession that occurred afterwards," Mr. Kagann said.
In addition to expanding the core business, the new managers had decided to diversify, probably to reduce the company's dependence on freight, which was highly cyclical.
The OECD calculates that his first three budgets brought an overall improvement in the fiscal balance of five percentage points of GDP, most of which was structural rather than cyclical.
But the recession was unkind to the events business, which is notoriously cyclical anyway.
The hotel industry, which is notoriously cyclical, is particularly susceptible to such peaks and troughs.
Moreover, he said, the economics of running a restructuring department -- which is a cyclical business -- do not make sense for a big bank.
