Word: bottoms
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...makers of small, light and midsize jets, such as Cessna Aircraft Co. and Hawker Beechcraft. Cessna, the largest company in the category, has halved its workforce of 16,000 this year because projected 2009 deliveries were cut almost in half, to 275. "I don't think the market will bottom out until the middle of next year," projects Jack Pelton, Cessna's CEO. "Then we will slowly crawl out of this predicament when corporate earnings improve in 2011." The demonization of corporate jets by Congress, prompted initially by the CEOs of the Detroit automakers, has helped kill thousands of jobs...
...sure, based on projected operating earnings for all of 2009, S&P 500 companies are trading at an average price-earnings ratio of nearly 19, higher than the long-term historical average of 15. But basing stock values on 2009 data is inappropriate. This year saw the bottom of the worst recession since World War II. What is relevant for determining stock values are future earnings, not past earnings. Next year's operating earnings for S&P 500 companies are projected to average $74 a share, less than 15 times earnings; early estimates for 2011 are at $85 a share...
...Crimson (5-3-1, 5-3-0 ECAC) hit the road and plowed through conference bottom-feeders Yale and Brown in convincing fashion, shutting out the Bulldogs (1-7-1, 1-7-0), 5-0, and trouncing the Bears...
Eight minutes later, sophomore Jamie Rees was fouled a few yards outside the box. Senior Adam Rousmaniere curled the free kick around the wall and into the bottom right corner of the net to assure Harvard of a spot in the Tournament’s Sweet...
...quarterfinals and propelled Argentina to the championship. Do we now want the Brits bitter that the Irish got their do-over, and they didn't? In 1985, umpire Don Denkinger cost the St. Louis Cardinals a World Series by blowing an obvious call at first base in the bottom of the ninth in Game 6. How did the Cardinal faithful respond to their unholy, unjust loss to their intra-state opponent, the Kansas City Royals? By continuing to be the nicest sports fans on the planet...