Word: alanes
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...rebate is supposed to delay that day of reckoning just long enough for Corporate America to shake off their excess inventories and start ramping up production again, followed by the long-awaited rebirth of capital investment in expansion, new equipment or in other companies. Alan Greenspan's six-and-counting interest-rate cuts will presumably help that along, but most forecasts see another six months before businesses really get their sea legs back...
...That's about how George W. Bush, Alan Greenspan and everyone in Washington or out who would like to see the U.S. keep the good times going another ten years. Economically, the checks may be coming along at the right time - while consumers are apparently still confident enough to spend the things. The trick will be to get them into mailboxes and back out into the marketplace before one of two things start to scare people: the unemployment rate, which is going nowhere but up, and the stock market, which is going nowhere at all. Hopefully by winter, Greenspan...
...then there's the seers. Jack Welch, management guru of management gurus, is expected to dispense some pearls of wisdom this week about how far corporate America is from daylight. Alan Greenspan hits the House on Wednesday to say something about the economy and nothing about interest rates, and then take questions. (Expect a lot of bombs lobbed about the tax cut, and for Greenspan to calmly reply that fiscal decisions aren't his cup of tea.) And of course the White House will be reminding everyone to please spend your tax rebate immediately, we could sure use the stimulus...
...Clark walked into, and deftly out of, his own scandal, when in 1959 the House Oversight Committee investigated payola, the record industry's system of bribing disc jockeys and program managers in return for airplay. It ended the career of Alan Freed, the man credited with applying the black sexual term rock-and-roll to jump music. (By the way, that's a lie; the phrase goes back much earlier than Freed. In the 1941 film "Swing for Your Supper" young Dorothy Dandridge sings of her musical education: "They made me rock 'n roll ... brought me up on good...
...These are the guys that sit around once every few months with Alan Greenspan - yes, there are others, despite the aura Greenspan sometimes acquires of a Roman emperor with a briefcase - and fiddle with the money supply in an attempt to keep the business cycle from bucking too much. (They also do some other stuff, which nobody cares about.) Greenspan chairs the seven-member Federal Reserve board, and they are joined for meetings by five regional Fed Bank presidents. This 12-person group is the Federal Open Market Committee. Each board member has a 14-year term...