Word: cancelations
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Dates: during 2000-2009
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Even more worrying for the long-term outlook is the rush to cancel orders for new ships. Clarksons of London, the world's largest shipbroker, announced that new orders had dropped from 378 vessels in October 2007 to just 37 last October. In November, New York?based Genco Shipping and Trading wrote off a $53 million deposit in order to get out of a $530 million deal to buy six new vessels, freeing up liquidity and strengthening the firm's "ability to act opportunistically," a Genco spokesman said. As companies pull back to protect their bottom lines, many are simply...
Still, the prospect of rogue attacks along the border has spurred the Lebanese army to cancel all leave and step up patrols in south Lebanon alongside UNIFIL peacekeepers. The heightened security measures occurred after eight Katyusha rockets were discovered by a farmer on Thursday in a valley two miles north of the border with Israel. The rockets, a mix of 120mm and 107mm calibers, were fitted with timers and set for launching late on Thursday night. Lebanese security sources suspect the presence of the rockets was intended as a "message" to Israel rather than an actual attack. They note that...
...noon Saturday, more than two-thirds of Oahu had power restored, 18 hours after the blackout started. The outage shuttered shopping malls and businesses and forced the Honolulu airport to cancel flights. Traffic signals went dark, leaving motorists crawling through streets with no lights. The Honolulu police department called in all available officers for duty, blanketing the island with a force of more than 1,300 men and women. Long lines formed at the few grocery stores with backup generators as residents shopped for candles, bottled water and ways to pass the time. "Power was restored to the residence during...
...back-and-forth can feel esoteric, but, in fact, it goes to the heart of solving the problem. "If losing firms are sucking up all the credit, then isn't the [correct] policy response to let banks cancel lines of credit?" asks Octavio Marenzi, CEO of the banking consultancy Celent, who joined the debate in December with his own paper, called "Flawed Assumptions about the Credit Crisis." After going through a reckoning of the aggregate data - including the fact that consumer credit hit a record high in September 2008 - Marenzi put forth a couple of possible explanations, including "that policymakers...
...Meanwhile, one day this month members of the Tucson group were submitting requests for such things as answering machines, rooftop TV antennas, cell phones, and firewood - items that would surely help users cancel their cable subscription and cut down on heating and other costs. Martinez said one person, apparently hoping to save money on the water bill, posted a request for giant barrels that he could use to capture rainwater. Members were also seeking scraps of fabric, mason jars and broken crayons, all of which are good for craft-making...