Word: cutting
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...tragic as one would assume," he says. "I say to my wife that the worst tragedy I could have in business deserves a two-hour cry, and I scale down from there. I didn't cry one moment." When his wife asked him to cut back on expenses, he dismissed the suggestion, telling her he still had more money than they could ever spend. Eventually he capitulated: whenever possible, he uses his small private jet instead of his big one. (See 25 people to blame for the financial crisis...
Even if California avoids federal intervention and the CDCR's current proposal is adopted, mandated state budget cuts will force the department to cut half of the already depleted programs for rehabilitation, substance abuse and vocational training. That would spell disaster, according to Woodford. "We release 10,000 [prisoners] a month now and in that 10,000 very few have been involved in anything to improve who they are as human beings. That should scare us. And in that 10,000 are some very violent people that left a lockup unit like Pelican Bay [to go] right back...
...also expect we'll get some surprises on the business side. Businesses overreacted to the severity of the recession - they cut capital spending, they cut advertising, they cut employment very, very dramatically. They overcut. In the next six months, we are going to be in a period where businesses hire back aggressively and spend on capital equipment and advertising and all those things very aggressively. (See 10 big recession surprises...
...pretty clear that the LDP [Japan's ruling party] is going to lose. The new party that's coming in intends to put through programs that will increase the amount of money that the average Japanese [person has], thereby stimulating personal spending. For example, it intends to cut the gasoline tax and eliminate tolls on all roads. They are going to pump money into the Japanese consumer, whereas the LDP's policy of stimulation, as a cynic would say, was to build bridges to nowhere. They'd create these big industrial-development projects, which really haven't worked and haven...
...Russian-patrolled border that separates South Ossetia from Georgia snakes its way across sunny fields cut with trenches and through quiet woods spotted with landmines. The only visible signs of the border's presence are where it crosses roads. At these crossings, flags snap in the breeze and opposing soldiers sit just 60 feet from each other behind sandbag walls. But for many South Ossetians and Georgians with family on the other side of the border, the nearly invisible line is as divisive and impregnable as the Berlin Wall once...