Word: cost-cutting
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...runs on the same stuff. The price of jet fuel has risen 69% in the past year, and Virgin's executives, like their rivals, lie under its sword. "Other than the recession and $110-a-barrel oil, I see nothing but opportunity," CEO Cush deadpans. He can't cost-cut his way out; the limits of that strategy are obvious. The big carriers have taken $15 billion in costs out since 2001 but are paying $17 billion more for fuel...
...comes down to product," says Dieter Zetsche, Chrysler Group's CEO. "You can't cost-cut your way to prosperity." Nor can you price-cut forever, which has been the strategy the Big Three have relied on to keep the metal moving. Consumers have always been willing to pay more for cool design and a hot car. This year, at least, Detroit will give them that opportunity. --With reporting by Joseph R. Szczesny/Detroit and Dody Tsiantar/New York
...implication was clear: Greenspan intends to see the Dow and the NASDAQ show consumers the way back to the sunny side of the street. And he'll cut interest rates to help bridge the gap between the doldrums of now and the summer days ahead, when those companies finally cost-cut their way back to profitability. At that point, the cycle can begin again...
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