Word: boom
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Dates: during 2000-2009
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...Boom times for hoteliers pretty much ended a year ago. But the industry went into a real dive this past fall with occupancy rates dropping 6.5% in October and another 10% to 12% in November, estimates Smith Travel Research. "It's like someone has taken the punch bowl away," says Peter Yesawich, CEO of Y Partnership, and a travel industry consultant...
...look at some of last year's biggest percentage gainers to understand that. Solar-panel maker First Solar, which rose more than 700% last year, has lost more than half its value so far in 2008. Fertilizer manufacturer Mosaic, which last year saw its stock triple amid the commodities boom, is down 67% since January, as boom has morphed into bust. Chasing winners is rarely the best way to make money - though it is nice to know there are at least winners out there to be found...
...standard in the genre. But the golden age of Ponzi and pyramid schemes didn't arrive for decades. (The two highly similar cons are often conflated, though in Ponzi schemes, a ringleader facilitates the entire enterprise; in a pyramid scheme, rungs of collaborators recruit new investors.) In the boom years of the 1980s and '90s, as traders developed increasingly sophisticated investment vehicles, the cons cropped up with increasing regularity. In 1985, a San Diego currency trader named David Dominelli was revealed to have fleeced more than 1,000 investors to the tune of $80 million. During the 1990s, a Florida...
...There are no figures yet on what impact the financial crisis has had on that top-tier trend. But after so many years of heady growth, many rich Russians still seem to take the boom times for granted. Kazakov's wife's bravado is shared by many. "Some people are afraid, but I am not," says businessman Alexander (who asked that only his first name be used), as he strolls along the deck of a 58-ft. yacht wearing a shiny leather coat with a fur collar...
...latest trade data show that sustaining China's economic boom over the next year will prove arduous if not impossible. Last month China's exports, a major driver of the world's fourth-largest economy, fell by 2.2% compared with November, 2006. The result marked the country's first decline in exports in seven years and was a sharp reversal of the double-digit growth rates manufacturers have typically posted in recent years. The drop was "a shock figure," says Ben Simpfendorfer, the Hong Kong-based chief China economist for the Royal Bank of Scotland. "I had expected exports...