Word: downshifts
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Dates: during 1990-1999
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Wall Street swings to extremes in a flash. For years portfolio managers have worried about the spectre of runaway inflation, as employment and incomes threatened to power into sixth gear. Now, after a summer of turbulence, they have become convinced that the economy won't weather the quick downshift. They are jettisoning the stocks and bonds of any companies that could stumble if the decade-old expansion turns to recession. But what happens if that severe slowdown doesn't hit? What if the Fed won't let it happen and moves aggressively to cut rates? Then Wall Street will have...
...summer schedule could actually be a very good thing. I won't have to readjust to the academic rigor; I will downshift a notch. I won't be worried about wasting my summer away; I will have enhanced my job prospects for next summer. I won't be worried about finances next year; I will be set. Hmmm. Momentum, resume-building and money. Maybe I'm not so insane after...
WASHINGTON, D.C.: For Fred Thompson, the main problem with illicit Asian donations is that they don't seem to be news to anyone. But last week's swing-and-a-miss performance has forced Thompson and his committee to downshift, laying the groundwork for what they see as a pattern of illicit Asian contributions to political campaigns. Today's Exhibit A: a memo in which John Huang asked the Lippo Group, for whom he worked in 1992, to "please kindly wire" some $50,000 to the Democratic Party. Before long, a red-faced DNC was announcing the return...
...without a vicious fight, and GM is still chock full of gearheads who are torqued off at Smith for abandoning them to folks who wouldn't know which end of a wrench to hold. And GM's bureaucracy, as thick as any company's, can still downshift a project to neutral at the drop of a meeting. One high-level executive says the parade of meetings leaves him only 30 hours a month to work on new products and sales. "Things are 100% better than they were," he complains, "but it's still so tough and painfully slow...
...rate in the July-through-September quarter--following a 4.7% pace in the previous three months--the candidates grabbed the nearest microphone and gave wildly diverse interpretations of what the number meant. For Dole, it showed an economy teetering on disaster; for Clinton, it was a welcome business-activity downshift that would keep alive the 5 1/2-year expansion without reawakening inflation...