Word: contraction
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Dates: during 2000-2009
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...Understandably, neither the union nor the bondholders are happy about the task force's approach. The UAW feels particularly aggrieved because it has agreed to an unending series of givebacks over the past 20 years. Even before this latest crisis, the UAW had assented to the 2007 contract, which would have put Detroit's labor cost per car within a couple of hundred dollars of Toyota's and the other transplants'. That isn't enough, in the view of the task force, because consumers are willing to pay more for the foreign badges, and the Detroit Three need to earn...
...economic situations of their countries deteriorating more than they expected. The call for issuing more debt and supporting job creation may get louder as unemployment rises into the double digits. What seem like a sustainable polity on debt and stimulus may be now, but if EU GDP begins to contract faster and harder than expected, a wave of government desperation could sweep the countries in the union. Obama may have his way. It may just take several months for other countries to come around to his way of thinking...
...Last month AIG said it had paid out about $50 billion to various financial firms to which it had sold credit-default swaps, which are insurance contracts sold to bond investors and others. When a bond defaults, a holder of a CDS has the right to be reimbursed for the loss by the seller of the contract. AIG was one of the largest sellers of such contracts. Much of the credit insurance AIG sold was on mortgage bonds, which are backed by home loans. As more and more homeowners defaulted, many of those bonds plummeted in value, causing the holders...
...given so many shots from the moment they're born. They get multiple injections all at once, and if they fall behind, doctors put them on a catch-up schedule. Babies get the hepatitis B vaccine immediately after they're born and the only way for a newborn to contract that disease is if the mother is a carrier. Why not just screen the mother? Evan was handed to me pre-vaccinated with a Band-Aid on his foot...
...year-old garment industry worker who blames the Chinese for putting her fabric company out of business. They have been unemployed for an average of four months and most of them showed up alone. "Who am I going to bring?" asks Erika Garcia, an out-of-work contract lawyer. "My friends still have jobs...