Word: cutting
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...gallon, and the drumbeat of bad economic news has sent them ever lower. "Prices got to an insane level," Texas economist M. Ray Perryman says, "but they are equally insane now." With the price of a barrel of oil hovering in the $45 range and natural gas cut in half from a high of $14 per thousand cubic feet, the domestic energy sector is now at a critical "tipping point," Perryman says. If prices dip lower, he adds, the pace of the slowdown will quicken as domestic oil and gas fields that demand expensive, high-technology drilling methods will...
Rebecca Lindland, an analyst with Global Insight in Lexington, Mass., echoed the industry's concern, noting that a lack of credit combined with sinking consumer confidence is leaving automakers with little margin for error. "I don't think it's a surprise anymore if manufacturers cut production," Lindland says. "We don't expect to see anything but bad news...
...costs be on par with those of the nonunionized automakers but gives the companies until the end of 2009. It eliminates the job bank and requires that half of the future payments to the retiree health-care trust, VEBA, be made with stock. Further, it requires that debt be cut by two-thirds through a debt-for-equity exchange. Though these are terms of the loan, they are described as "targets," meaning exceptions can be made if there is deemed to be a good reason...
With the exchange rate hovering just below 90 yen to the dollar, and having risen to 87 on Wednesday after the U.S. cut interest rates, the Bank of Japan decided on Friday to cut its benchmark rate to 0.1%. The move was done on a near unanimous vote among policy makers. However, with its overnight rate already at 0.3%, it is unclear what such a small rate cut could achieve...
...that fateful day, a routine Israeli military patrol cut through a Shi'a religious procession, rocks flew, and the Israelis fired back. Two Lebanese were killed. The Israelis expected little to come of it, understanding too late just how frustrated the Lebanese Shi'a were - frustrated by their own government, by the Palestinians, by the Americans, by the French, as well as by the invading Israelis. Nabatiyah quickly metastasized into a vicious 17-year guerrilla war. It would turn out to be Hizballah's Boston Tea Party, and led to Israel's first defeat in the field of battle when...