Word: dollarization
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Dates: during 2000-2009
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...their designer suits and million-dollar salaries, most coaches have less power than many fans realize. "It's often said that the NBA is a players' league," notes Van Gundy, who was fired in 2007 after a relatively long run of four years as coach of the Rockets. "What's left unsaid is that it's also a league about the guys who pick the players, the general managers." Not only do they make most of the big player decisions on trades and free-agent signings, but they also get a lot more face time with the people who sign...
...slamming on the brakes - there is a 75% increase in projects being stopped. But demand is falling quickly too. "There's [been] nothing like this in history, in terms of falling demand" says Bjorn Hanson an industry analyst with New York University's hotel school. With the strengthening dollar, hotels are losing the European traveler; slumping corporate profits mean conventions are seeing fewer attendees; and as the job picture worsens, family vacation travel is down...
...nation's largest accounting firms to the list of watchdogs and regulators that didn't catch the multibillion-dollar Madoff investment scam...
...rubber-shoe maker Crocs (down 96%, to $1.52), bookseller Borders (down 93%, to $0.71), home furnisher Pier 1 Imports (down 90%, to $0.51) and casual eatery Ruby Tuesday (down 86%, to $1.38). But there have been standouts too. Some are thrift-conscious companies that make for classic recession plays: Dollar Tree (up 61%, to $41.61), 99 Cents Only Stores (up 39%, to $11.05), Family Dollar (up 27%, to $24.51) and Wal-Mart (up 15%, to $54.63). Others, though, are less predictable, including shoe chain Finish Line (up 134%, to $5.66), teen clothier Hot Topic (up 33%, to $7.73), and sandwich...
...hope” and “change,” but also the year that “sub-prime mortgage” replaced “WMD” in the American lexicon. Recent history has been particularly depressing: Between Blagojevich and billion dollar bailouts, there has been little to be pleased about this past month. I still smile whenever I hear about the Somali pirates, but I have a feeling that even this may grow stale in the coming months...