Word: crunched
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...real estate crunch is a potential calamity for the arts economy. Most obviously, creative people can no longer find housing in New York within their means, even in formerly marginal neighborhoods that they pioneered, made fashionable and then unaffordable. More than that, they can't find a place to do their work. The study by the Center for an Urban Future found that almost a third of the city's "creative workforce" was self-employed, meaning that in addition to homes many of them needed their own studios, workshops, even salesrooms. And real estate is so expensive that theater groups...
...This year's meeting, which starts on Jan. 23, might be a little different. Thoughts may be in the valley rather than the hills. A year ago, subprime had not entered the lexicon of the nightly news, and most Americans probably thought that "credit crunch" was a breakfast cereal. We all know better now. In the wake of the report that December's U.S. unemployment rate had jumped to 5%, the highest level in two years, the Bush Administration and Congress, Republicans and Democrats, started falling over themselves trying to find a politically acceptable stimulus package. With a recession...
...though, households plowed on, and for the first time ever, consumer spending kept rising during a recession. It continued rising afterward, much faster than incomes, with Americans paying for the difference by taking on more and more debt. That debt spiral is now unraveling, and the ensuing credit crunch could crimp spending for years...
...Harvard sophomore netminder Kyle Richter for the go-ahead goal. “He was pretty much all alone,” junior forward Jimmy Fraser said. “He had enough time to bear down and pick his spot.” As the final seconds of crunch time ticked away, coach Ted Donato ’91 pulled Richter with 1:29 remaining and used its 6-on-5 advantage to apply pressure in the Tigers zone. Despite converging on Princeton’s net and firing two shots on goal, the Crimson could not find...
...states like New York and California, which hold their primaries on February 5, Clinton's campaign is putting new pressure on its fund raisers to come up with the cash she will need to carry her through. "Clearly, by every measure, I hear they are in a real financial crunch," says one prominent fund raiser. "Here's the dilemma: You have a situation where there clearly is a full-court press to raise more money, but considering the state of decline of the campaign, there's a real question of whether people are going to want to give...