Word: baumohl
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Dates: during 1990-1999
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...before Y2K, neither has been able to match the NASDAQ comebaq. That index's outperforming of both the Dow and the S&P may make 1999 the year tech stocks finally silenced their naysayers. "The NASDAQ represents the vanguard of the American economy," says TIME senior business writer Bernard Baumohl. "Many of the companies represented on the index are going to be the winners in the next ten or twenty years because they're on the cutting edge of innovation and growth in the American economy." And that's going to make NASDAQ the place to be in the unnamable...
...Doubters may counter that the tech-stock surge is Y2K-related, and that business has been booming precisely because major corporations have invested heavily to fumigate their systems against bugs. "But," says Baumohl, "it's unlikely that there'll be a reduction in capital expenditure on technology once the Y2K problem has passed - companies are more likely to maintain that investment in order to stay ahead. There may be a shakeout in the NASDAQ in the coming months, but it will probably still outperform the DOW and S&P again next year, and in the foreseeable future...
...online grocery services, and Maryanne Murray Buechner wonders how Wal-Mart will fare in an e-commerce world. "The Internet clearly has been one of the most dynamic forces in the history of capitalism," says business editor Bill Saporito, who produced the package with help from senior reporter Bernard Baumohl, deputy picture editor Rick Boeth and associate art director D.W. Pine...
...first time. The impetus was an unemployment report that contained the best possible scenario for Wall street - continued healthy job growth but no sign of wage inflation. "In investor psychology, the unemployment figures are the most important of all economic indicators," says TIME senior business writer Bernard Baumohl. "It indicates both the strength of the economy and the potential for inflation, and Friday's report showed a healthy economy with no sign of inflation. That means the Fed has no reason to raise interest rates at least through the first quarter of next year...
...backed off the record high, the euphoria may be a product of a paradigm shift in the shaping of economic indicators. After all, it seems counterintuitive that wage inflation wouldn't increase with the ever-expanding job market. "But this may show some things about the new economy," says Baumohl. "Increased productivity means that even though new jobs are being added, the prices of consumer goods aren't rising. And a growing number of employees are being at least partly rewarded in ways that don't show up in hourly wage inflation figures - extra benefits, bonuses and stock options...