Word: cuttingly
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Dates: during 2000-2009
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...their capital plans has in general shown that the banking industry is stronger than many thought. Banks were able to raise capital in May and early June with surprising ease. Selling new shares usually makes a company's stock price go down because the earnings-per-share pie gets cut up into more slices. But many of the banks have been able to raise cash and have their stock price continue to rise. J.P. Morgan, for instance, raised $5 billion in May, yet its stock price rose 14% over the course of the month. All told, the 19 stress-tested...
Kenya needs to find one. Despite an agreement to curb corruption and cut the sweeping powers of the President, nothing has been done. Neither side has shown the will or ability to rise above their power squabble. Nor have they called to account the killers in their ranks. Crippled by biased police investigations and prosecutors, Kenya's courts have convicted no one for their part in the violence. A mystical and criminal cult called the Mungiki has replaced the government in many slums, providing water, housing and dispute-settlement along with drugs, prostitutes and protection. The police, endemically corrupt, fight...
...that? You could start with the Metropolitan Museum. The nation's largest and wealthiest art museum is in no danger of disappearing. But having watched its mighty endowment shrink last year from $2.9 billion to $2.1 billion, its administrators decided a few months ago to cut staff 10%. The Met is not alone. Endowments have shrunk everywhere, and sizable budget cuts have been the rule at museums in Atlanta, Baltimore, Denver, Detroit, Indianapolis, Los Angeles, Philadelphia and San Diego. In February the 35-year-old Las Vegas Art Museum simply gave up and shut its doors for good...
...underwriting have also been drying up. And as state and local governments contend with huge deficits, arts spending has been a major casualty. In Michigan, where the struggling Detroit Institute of Arts recently laid off 20% of its staff, the 2010 budget proposed by Governor Jennifer Granholm would cut arts funding to exactly nothing...
Kaiser's message to all of the groups is to resist the temptation to cut their programming and their profile. When times are bad, it's crucial to make yourself interesting and vital and to let everybody know you're there. "Organizations that are cutting performances and marketing are going to be the losers," he warns. He also cautions them against reaching for the most familiar programming--Beethoven's Fifth! The Nutcracker! Grease!--in the hope of drawing guaranteed crowds. "I talked to an opera company recently that has done some adventurous programming," he says. "But this season they were...