Word: digitalizing
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Dates: during 2000-2009
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...more than a week, much of the Angeles National Forest has been an inferno as a ferocious fire, spurred by abnormally high temperatures and single-digit humidity, ripped through steep canyons, dense brush and forest untouched by flames for 60 years. The advancing fire has cut a moonscape swath through the middle of the mountain range that forms a barrier between the greater Los Angeles area and the Mojave Desert...
...curious, the number of people who bemoan Hong Kong's independent-music scene. Critics (and expats in town for brief, superficial sojourns) adopt a default posture of digit-pointing, waving jaded index fingers at a concert calendar crammed with Cantopop and mainstream international acts. But even the most cursory probing reveals plenty of homegrown edge. Consider the Underground, a fortnightly indie-music night that takes place in venues across town, whose organizers have showcased more than 300 bands in its five years of existence. That's irrefutable evidence that if you're looking to tap into live, original music...
...this recession, there are struggling apparel retailers all across the country. Then there's Abercrombie & Fitch. The upscale teen retailer has suffered 10 straight months of double-digit same-store-sales declines. In the second quarter of 2009 alone, sales were down an eye-popping 30% across the company's three name outlets: the flagship Abercrombie brand, which has 567 stores; Hollister, a 520-store teen chain; and Ruehl, a 29-store chain for young adults that Abercrombie shut down in June. Abercrombie & Fitch lost $26.7 million, which includes $24.4 million in charges associated with the closing of Ruehl...
Many players believe there's opportunity now for similar triple-digit returns. "I think several hundred percent [return] is possible" if leverage is used, says Anton Schutz, portfolio manager of the Burnham Financial funds, which have been investing in the sector since last fall. However, he believes the biggest buying opportunities are still six to 12 months away. (See the top 10 scared stock traders...
...Vegas has made its bet. This recession, it clearly believes, is just another business cycle. It will end, sooner rather than later, and the world will go right back to gambling on slot machines and real estate and tasting menus and double-digit corporate earnings. In fact, Wynn bet me $100, an amount I had to spend several minutes explaining to him, that the U.S.'s GDP growth will be positive by April 2011. In the meantime, he and the other people who run Vegas believe the deck will get reshuffled and new players will sit down at the table...