Word: busting
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WHAT HAPPENED: Simply, the high-tech boom went bust. After five years of astonishing growth, fueled by an irrationally exuberant stock market that showered money on everything to do with the Internet, both businesses and consumers decided they had all the gizmos they needed. That left companies with massive amounts of inventory on their shelves. The downturn then began to spread to the rest of the manufacturing segment, such as autos. High levels of household debt--all those credit cards and home-equity loans--don't help...
...Battelle has one prospect to cling to. If his company files for Chapter 11 protection, the Standard, not IDG, will control the sale of its assets--including the name. That is small consolation in a world in which ad revenues keep sinking into the fissures of the biggest economic bust in a decade...
...roof over their heads is by far their biggest investment and the most powerful determinant of how wealthy they feel - more so even than a job and definitely more than those 401(k)s that have borne the brunt of the slowdown so far. So a true real-estate bust, in the manner of the one that hit the U.S. in the late ?80s and early ?90s or the one that sent Japan careening into its coma at about the same time, would almost certainly spell recession - with a capital...
...stage debut, is too suave and nonthreatening as her arms-merchant father, the capitalist who alters her dreams. Still, even if the Roundabout Theatre's new production of Shaw's great comedy lacks some pizazz, it can't douse the fire of a dramatist out to bust open the sentimentality and conventional wisdom that infected both society and the stage. We could use a new Shaw today; until he (or she) comes along, the old one will do nicely...
...WALLACE REYBURN, 87, war correspondent and author of 25 books, including Rehearsal for Invasion, the first-hand account of the ill-fated Dieppe raid of 1942; in London. A deadpan wit, he raised eyebrows with Flushed with Pride, the story of John Crapper, father of the modern toilet and Bust-Up, a spoof biography of the inventor of the modern bra, Otto Titzling. DIED. PAUL MAGLOIRE, 93, dictator of Haiti from 1950 to 1956; near Port-au-Prince. The former general who overthrew civilian President Dumarsais Estime in 1950 oversaw Haiti's most marked period of prosperity, the result...