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...overall fourth-quarter slowdown among the Academy of Dental CPAs' clients. These dentists serve patients across a broad socioeconomic spectrum. "We're seeing a lot more open appointment books through March," says Willeford. "If people keep losing jobs, we're going to edge off a cliff." Dr. Roger Levin, CEO of the Levin Group, a dental-management consultancy, is also very cautious. "Traditionally, it takes six to 12 months for economic trends to affect dental practice," he says. "The full impact of the downturn may be yet to come...
Even though the program is voluntary, there are early signs that it might be the kick in the pants needed to get servicers to more aggressively rewrite loans. At a mortgage bankers' conference in Tampa, Fla., on Wednesday, servicers praised the incentive structure, and Jamie Dimon, CEO of JPMorgan Chase, went on CNBC to say he thought the plan would "lead to a lot more modifications." An earlier effort to spark loan rewrites proved to be a flop, but the Administration thinks this new program could reach 3 million to 4 million homeowners. The plan also includes an endorsement...
With credit tight and customers scarce, chief executives from San Francisco to Shanghai are hunkering down, cutting costs and praying that they can survive the punishing global recession. But not Madhu Rao, the new CEO of Hong Kong - based luxury-hotel operator Shangri-La Hotels and Resorts. Rao, 57, is forging ahead with an aggressive plan to expand Shangri-La's 60-strong network of hotels, even as his business slumps. "We have one single vision," Rao says confidently, "to lift this [company] to another level...
...Sony - are forecasting historic losses and firing thousands of workers; Japan's unemployment rate has spiked to 4.4%, a level not seen in more than five decades. "We have a once-in-a-hundred-year crisis and the policy response is not even average," says Jesper Koll, president and CEO of Tantallon Research Japan. "The people running the show are not politicians, not independent or accountable political leaders. The policies are run by bureaucrats...
...level Rao seeks is global. Shangri-La has confined itself mainly to its home turf of Asia, where it is a well-known brand. But now Rao, a former accountant who became CEO in August, sees opportunity in crisis. He is undertaking a wide-ranging expansion that will take Shangri-La hotels to markets as diverse as Las Vegas and Doha. In January, the company launched its first Shangri-La hotel in North America, with the opening of a 119-room property in Vancouver. Japan will see its first open in March in Tokyo, and Europe later this year...