Word: broads
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...problem, says S&P's chief economist David Wyss, who looks at GDP and employment and other broad indicators of the economy, is that S&P earnings could end up about 50% lower, or $63 per share. Stocks analyst are typically more optimistic than economists, but only by a few bucks, says Howard Silverblatt, an index analyst at S&P. "Traditionally, when you get these big discrepancies, it is the economists who end up being a lot closer to reality," says Silverblatt...
...problem stretches far beyond the finance sector. Five of the companies with the highest dollar amount of pension underfunding, according to the report, are Raytheon (underfunded by $1.6 billion), Johnson & Johnson ($1.5 billion), ExxonMobil ($1.4 billion), Macy's ($980 million) and Alcoa ($950 billion). "This is affecting the broad swath of companies that make up the fabric of what we call the 'real economy,'" says Mark T. Williams, a risk-management expert and finance professor at the Boston University School of Management...
...have also been hit hard. State and local governments' pension funds support some 27 million Americans, and many have lost a fifth of their value this year. Virginia's retirement fund and California's Calpers have each fallen 20% in just the past four months. The pain is both broad and deep...
...other side of Auckland, Detective Sergeant James Watson has been won over by Key. In a year in which violent crime has risen by 12%, the would-be P.M. has played the tough guy to good effect, winning broad public approval for proposals including boot camp for young offenders and the scrapping of parole for hard-core criminals. "I'm not having, on my watch, people on the streets who've committed heinous crimes," Key told a national television audience. He's also made familiar right-of-center noises on education, foreshadowing national standards for literacy and numeracy, and plain...
Scowcroft’s talk offered a broad survey of the current foreign policy landscape and its existing issues—the political situation in middle eastern countries; the rise of China and its global influence; and the evolving Russo-U.S. relationship...