Word: bankrupting
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Dates: during 2000-2009
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America's leading motorcycle manufacturer is enduring its bleakest period since the 1980s, when it nearly went bankrupt. "Clearly it's a challenging environment, and we're doing all the right things in this environment to position our premium brand in this marketplace to make sure we're even stronger when we're out of this cycle," says Tom Bergmann, Harley-Davidson's chief financial officer...
...people around the world suffer from malnourishment and yet, ironically, efforts to increase food production have actually produced food that is less nourishing. Fruits seem to be less affected by genetic and environmental dilution, but one can't help but wonder if it's even possible to avoid nutritionally bankrupt veggies. Supplementing them is problematic, too: don't look to vitamin pills, as recent research indicates that those aren't very helpful either...
...miners first scraped their fortunes out of the hills of Northern California, America's most populous state has been a land of titanic dreams. These days, though, it's a place with big problems. Its $42-billion budget deficit would make an out-of-control Hollywood director blush - and bankrupt a small nation. Its schools are failing, air quality is worsening, and unemployment neared 10% as of December. The only thing larger than its litany of woes is the roster of political celebrities who are testing the waters for a run for governor in 2010, when term limits show Arnold...
...Peter G. Peterson foundation, a new and welcome arrival on the national scold scene, announced in a December press release that the U.S. is bankrupt. Not the government but the whole country and everyone in it. As of Sept. 30, the PGP folks reported (using figures from the Federal Reserve), the value of everybody's assets was $56.5 trillion. The value of our liabilities (public and private) was $56.4 trillion. Given what has happened to real estate and the stock market since Sept. 30, it seems certain that we now owe more than we are worth...
American families may have borrowed irresponsibly, and may have elected politicians who borrow even more irresponsibly on their behalf, but the typical American family is not bankrupt. The average couple age 65-74 has accumulated a net worth (not counting entitlement promises as either assets or liabilities) of $691,000, according to the Federal Reserve in 2004. Shortly thereafter, of course, they start to die in large numbers. And what happens to the $691,000? Generally it goes to the children and grandchildren...