Word: cutting
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...distress. Publishing houses--among them Simon & Schuster, Macmillan, HarperCollins, Doubleday and Houghton Mifflin Harcourt--are laying off staff left and right. Random House is in the midst of a drastic reorganization. Salaries are frozen across the industry. Whispers of bankruptcy are fluttering around Borders; Barnes & Noble just cut 100 jobs at its headquarters, a measure unprecedented in the company's history. Publishers Weekly (PW) predicts that 2009 will be "the worst year for publishing in decades...
...impact very much resembles that of a terrorist attack.' PETAR DIMITROV, Bulgarian Energy Minister, on the effect of Russia's decision to temporarily cut off gas supplies to his country...
...Hindu Kush, which is a far harder thing. Obama is right to increase America's military, economic and diplomatic muscle in Afghanistan and across the border in Pakistan, but that power surge will work only if he also sets more realistic expectations. Ultimately, the U.S. will have to cut a deal--or lots of little deals--with the bad guys to flip those Taliban members who will renounce al-Qaeda from enemies to allies. That will mean empowering local warlords who don't truly report to Kabul and may not win any awards from the ACLU. But that's essentially...
...much as government can do and must do, it is ultimately the faith and determination of the American people upon which this nation relies. It is the kindness to take in a stranger when the levees break, the selflessness of workers who would rather cut their hours than see a friend lose their job which sees us through our darkest hours. It is the firefighter's courage to storm a stairway filled with smoke, but also a parent's willingness to nurture a child, that finally decides our fate...
...plunging, means companies based there are suffering from unprecedented reductions in orders. Even the world's largest semiconductor foundry, Taiwan Semiconductor Manufacturing Co. (TSMC), recently asked its 20,000 employees to take an extra day off every week for an indefinite period. The forced leave translates into pay cuts of at least 15%. But it avoids pink slips and allows TSMC to hang on to valuable staff. "This is a way that allows us to make the best of a bad situation," says TSMC spokesman Michael Kramer. "I'm not going to say it's a good thing, but there...