Word: busting
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...most urgent question is the meaning of economic conservatism. Representative Patrick McHenry of North Carolina, a conservative who keeps a bust of Reagan on his desk, surprised me by declaring that the Reagan era is over. "Marginal tax rates are the lowest they've been in generations, and all we can talk about is tax cuts," he said. "The people's desires have changed, but we're still stuck in our old issue set." Snowe recalls that when she proposed fiscally conservative "triggers" to limit Bush's tax cuts in case of deficits, she was attacked by fellow Republicans...
...financial oversight that have weakened us all in the age of Bernie Madoff. Corporate bailouts need to end - but Republicans must be determined to never again adopt a laissez-faire approach to Wall Street. After Black Monday, the Asian crisis, Long-Term Capital Management's meltdown, the Internet bust, the Enron scandal, WorldCom's collapse and the subprime crisis, there is nothing conservative about turning a blind eye to reckless speculation and greed...
...worse for Toronto-based Nortel Networks, a key supplier to North American telcos and once the brightest light in the Canadian economy. It was worth $250 billion, or about 35% of the total market capitalization of the Toronto Stock Exchange, before it flamed out in the post-dotcom bust. Earlier this year, Nortel, a company with $10.4 billion in annual revenues that has spent nearly a decade mired in accounting scandals and feckless attempts to reinvent itself, initiated bankruptcy proceedings. It will probably sell its most prized assets to chief rivals, including Nokia Siemens Networks and Avaya...
...though not because he was superstitious; Tomlinson's reps weren't swayed by the reported $100,000 to $200,000 deal EA Sports, the game's manufacturer, offers players for use of their likeness. But even among a group renowned for being superstitious - athletes have tried to bust slumps by donning women's underwear, eating the same meal each day and performing elaborate foul-line rituals - talk of a Madden Curse doesn't seem to have caught much traction. And for good reason. Most of the under-performing cover stars were felled by injury - a common affliction in a brutally...
What a difference a financial crisis makes. After the worldwide economic boom went bust, demand abruptly evaporated for many commodities that go into the production of houses, cars, computers, and all kinds of durable goods. The Dow Jones-AIG commodity price index has shed more than half its value since mid-2008. Due to falling metal prices, BHP Billiton in January announced the mothballing of an Australian nickel mine only eight months after it officially opened. The most visible turnaround has been in oil. A year ago, Western governments were pleading with Persian Gulf oil states to ramp up production...