Word: bonanza
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Here's hoping you avoided the food coma: you'll need your wits about you for Black Friday. The traditional day-after-Thanksgiving shopping bonanza has become a full-contact sport, with crazed shoppers determined to find the best deals, sometimes with tragic results. In last year's frenzy, a worker at a New York Walmart was trampled to death when the store opened its doors; two shoppers were shot in a dispute at a Toys "R" Us in California. The ensuing safety concerns may have prompted some shoppers to think twice, but retailers still expect a bonanza: the weekend...
This isn't all that out of the ordinary for a recession. Typically, companies ring up tax credits in down years and use the credits to plump up the bottom line when business picks up. But what is turning the run-of-the-mill tax credit into a bonanza this recovery is the huge amount that corporate America has lost in the past two years. Also, stimulus spending has turned around the economy and corporate profits faster than normal for a particularly deep recession. The speedy turnaround in corporate profits, which are expected to soar 60% in the fourth quarter...
...hope that students take advantage of this week and resubmit their midterm papers and grades to benefit from what surely will be a weeklong bonanza in grade inflation. Parties may take a serious hit, of course, as well as Greek life—but for the long term, students will benefit from this momentary lapse in fun. A week of self-loathing and sexual frustration as Harvard students can do much for Hopkins’s school spirit for the rest of the year. Of course, we sympathize with their athletic teams who may see a sudden drop...
...often happens in China, this potential bonanza could prove to be a mirage for foreign companies. The country's policymakers are nurturing a domestic alternative-energy industry on a massive scale. China is home to more than 100 wind-turbine manufacturers and some 400 solar-panel companies. The country has quickly grown into the world's largest maker of photovoltaic cells. Yet more than 95% of PV cells produced by China in 2008 were exported, indicating the country's output far exceeds domestic demand. Not surprisingly, foreign companies think they are being blocked from the mainland market. The European Union...
...country exports a great deal of petroleum or copper or similar commodities. The price of this commodity zooms; the country’s revenues do as well. From Caracas to Lagos to Moscow and Tehran, governments whose countries have benefited from commodity price booms have rarely spent such a bonanza well. Chile witnessed a commodity price boom during this past decade, and it has set an admirable example for others...