Word: disasterous
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As analysts scan the landscape they see a virtual Who's Who of battered luxury chains. "Saks and Neiman's sales are horrendous. Tiffany was down 27% in U.S. same-store sales last quarter, Bulgari was down 21%, Harry Winston sales were down 49%, and [LVMH Moet Hennessy] Louis Vuitton...
Three main lessons present themselves. First, our complex financial system is awfully fragile. Second, government action is capable of keeping a financial panic from snowballing into a complete economic disaster along the lines of the Great Depression. Third, the government has - in large part because of its success in averting...
Some states, like Colorado, are launching new efforts to help the recently released find housing and secure other social services. California has allocated some $42 million for an entire re-entry facility - a former prison for women - where inmates within a year of release will get training and, if needed...
'We really feel that we are the forgotten disaster.' GREG EYERLY, flood-recovery director for Cedar Rapids, Iowa, which is struggling to rebound from a June 2008 deluge that killed more than a dozen people in several Midwestern states
And one of the areas of concern that the public has right now is government spending. Even though we've had a disaster economically and I think we took some very important steps, people are understandably distressed about the size of the debt and deficits, because they're saying to...