Word: boom
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Dates: during 2000-2009
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...many pick up the habit by age 11. That's a demographic powder keg, one that means big trouble if you're a health expert and big promise if you're a tobacco executive. Both sides agree on one thing, though: across all of Africa, cigarettes are set for boom times. (See pictures of vintage pro-smoking propaganda...
...drop the film, and hung up on an official who called last week to insist he justify its inclusion. "MIFF stands firm by its decision to include the documentary in the program," Moore said in a written statement. (Read "Why the Uighurs Feel Left Out of China's Boom...
...Karen Ho got a job on Wall Street. The student of anthropology, who would later go on to get her Ph.D., was fascinated by how even in the midst of an economic boom, corporate downsizings were rampant - and how each time a company announced a major layoff, its stock rallied. What she found from her perch at Bankers Trust - and later in interviews with people at firms such as Morgan Stanley, Merrill Lynch, Lehman Brothers, Goldman Sachs, JPMorgan, Salomon Brothers, Kidder Peabody and Lazard - was that it wasn't just an ideological commitment to boosting shareholder value that drove decisions...
...think that attitude follows from the way Wall Street works? What a lot of folks don't realize is there are tons of layoffs on Wall Street even during a boom. What they value is not worker stability but constant market simultaneity. If mortgages aren't the best thing, it's, "Let's get rid of the mortgage desk and we'll hire them back in a year." People were working a hundred hours a week, but constantly talking about job insecurity. Wall Street bankers understand that they are liquid people. It's part of their culture. I had bankers...
...year - and reinstate the Glass-Steagall Act [that separated investment and commercial banking]. These are big reforms, but they'd give you a more stable landscape to make even more changes. Part of what I learned is that the very kinds of daily practices that created the boom in the first place - wanting to book as many deals as possible for short-term bonuses, a workplace structured so that they're knowingly not there for very long - paved the way for the bust. I talked to bankers who said, "When we do deals like this, we're probably...