Word: boom
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Ireland pounced on the global economic boom of the 1990s, luring billions of dollars with low taxes, cheap labor and an English-speaking workforce. The boom's collapse also hit close to home - perhaps most dramatically in the case of the troubled Irish drug company Elan, which has seen share prices plunge 90%, is the subject of an accounting investigation and is struggling to raise $1 billion from asset sales to stay afloat. But as Elan's chairman and CEO Donal Geaney stepped down last week, along with deputy chairman Tom Lynch, their gloom had not really spread...
...heard—boom!—a huge explosion, and we went to the window to see this huge conflagration of a car spewing flames about 20 feet into the air,” Conley said...
...country is now waking to the unpleasant reality that boom-era excesses and corporate malfeasance go hand in hand. When the wealth of the million richest U.S. families, the top one percent, expands too much over a decade or two of booming stock prices, the eventual result seems to be a taste for speculation and highly developed sense of "gimme" that winds up jeopardizing both the American economy and the vitality of the American democracy. Especially in corporations, this ethical erosion over the last 4-5 years is now coming home to roost...
...alone in representing this arrogance, but they have come to symbolize the various styles of financial corruption. Political corruption also rises with stock markets and the concentrations of great wealth. As elections cost more and more, Congressmen and Senators become supplicants. The third corruption induced by money during the boom periods is philosophic - wealth bends ideology and culture to flatter lucre and to proclaim its entrepreneurial nobility. Markets are saluted as better stuff than parliaments, political contributions are hailed as the 21st century incarnation of free speech and democracy shudders...
...this was the country's first time in the finals. But fans back home are whispering that the team wasn't merely incompetent. Rumor has it that players, including star defender Fan Zhiyi, threw the match against Costa Rica, a 2-0 defeat, to make a little cash. A boom in illegal sports gambling has tainted China's soccer league, which uncovered a slew of crooked referees and players fixing games last year. But Fan adamantly denies any wrongdoing, and soccer pundits speculate that Chinese authorities may be encouraging the controversy to discredit him. One of the few Chinese players...