Word: contractive
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...French Polynesia reported a 30% drop in year-on-year arrivals - tourist numbers are now at levels last seen in 1996 - while the number of tourists cruising between the islands of Bermuda, Antigua and Barbuda in 2008 sank by almost a fifth. The WTTC estimates the travel industry will contract by 3.5% this year and shed 10 million jobs...
With so many people cutting back on vacations, airlines are also suffering. The International Air Transport Association estimates passenger traffic will contract by 5.7% this year, leaving airlines with losses of $4.7 billion. Carriers such as Cathay Pacific and Qantas have been cutting services, which in turn hurts hotels and restaurants in places such as Sydney, Mumbai and London, to which Cathay Pacific will cut 17 round-trip flights in May alone...
Responding to fears that Harvard may reinstate its licensing contract with Russell Athletic—a sportswear company accused by labor groups of mistreating its workers—Harvard’s Student Labor Action Movement brought a former garment worker to campus last Thursday in order to speak about the company’s violations of worker rights. Harvard ended its licensing agreement with Russell Athletics last December, as the company faced allegations that it shut down a Honduran factory because of workers’ attempts to unionize. Yet Rick Calixto, director of the Harvard University Trademark Program, wrote...
...maintain ownership and full control over data even when it’s handled by an external organization.”Kroll, who says he has plans to pursue a Ph.D. in computer science at Princeton next year studying the intersection of security and technology policy, says that any contract between FAS IT and Mail2World would have to ensure that Mail2World does not turn over student data in the case of a legal investigation or a subpoena. But even then, he cautions that there is a risk that Mail2World may not honor the contract.David J. Malan...
...Wall Street, consumers in the U.S. - Asia's most important customers - slashed their purchases of the toys, blue jeans and flat-panel TV sets churned out by the region's factories. The consequences have been disastrous. Every major economy in the region, from Japan to Singapore, has seen exports contract sharply, usually by eye-popping double-digits. Taiwan registered year-over-year declines of more than 20% for five straight months starting in November. China saw year-over-year declines of more than 17% in January, February and March. Millions of Asians lost their jobs as tens of thousands...