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...Then fortunes turned. Demand for Crocs, which are named after a crocodile because they can be worn on both land and in the water, began to cool in early 2008. Throw in the global downturn and sales tumbled 15% to $721.5 million in 2008, leading to a loss of $185 million, following a profit of $168 million a year earlier. Its share price plummeted from a high of $74 in November 2007 to a low of just $1.05 last November. It was, says John Duerden, Crocs' chief executive, "the perfect storm." (See pictures of 23 years of Air Jordans...
...penalty for switching jobs that had been built into the pension system. On the corporate end, a change in accounting rules made the growing cost of pensions more apparent to shareholders. Cutting the pension was a guaranteed way to improve the bottom line. The rise of the 401(k) began...
When Mao walked past them, he said they began to punch and kick...
Fluid dynamics researchers Jacy C. Bird and William D. Ristenpart were doing routine experiments on water droplets, when the supposedly predictable outcome failed to materialize. Instead of coalescing as expected, the charged water drops they were testing began repelling each other—a result that seemed to fly in the face of elementary science...
...right increasingly difficult to come by under Nicolae Ceauşescu's dictatorship, especially for German-speaking Romanians. After graduation she became a translator at a factory, but she ran afoul of the secret police when she refused to serve as an informant and lost her job. She began writing fiction, and in 1982 she published a collection of stories called Niederungen, rendered in English as Nadirs. In spare, poetic, forceful language the stories describe cruelty and repression in a German-speaking village much like the one Müller grew...