Word: downturn
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Amid the economic downturn, Americans are buying fewer new cars and light- trucks, or even used cars. In recent weeks, GM announced a third- quarter loss of $2.5 billion. And the major automakers have stirred a vigorous debate over how much, if at all, the federal government should be involved in rescuing yet another ailing industry...
...Mediterranean tuna trade earns millions in tax revenues for Europe and employs thousands of Spanish and Italian fishermen, whose livelihoods have been pummeled by declining stocks in recent years. The specter of further job losses amid a global economic downturn has militated against European officials pressing for sharper cuts in bluefin-fishing. "None of the [fisheries] commissioners want to come back home and say, 'I have saved bluefin tuna but I have ruined my fishing industry'," says Fonteneau, who estimates that fishermen make as much in one month selling high-priced bluefin tuna as they do during an entire year...
...years and that it will be years before it lifts. But if you start measuring from the beginning of the subprime debacle, we're already 16 months into this mess; we're at least four months into what could be the most serious and worrisome phase of the downturn. So the clock is ticking. Yes, there will be more bankruptcies and bailouts and job cuts. Yet no less an investor than Warren Buffett is making stock investments now, planning to be there for the long haul. The stock market is closely tied to the economy, even though the two often...
Though the severity of the economic downturn has become apparent to the broader economy, its impact on the Ivy League remains far less obvious. Though all the universities have issued statements warning about the effects of the financial crisis, some have been more forthcoming than others...
...want in. "It's not fair to students to admit them to a university and not be able to offer classes, sections and student services that they need and academic advising and help that students deserve," says CSU chancellor Charles Reed. Cal State tried to cope with the economic downturn in the early 1990s by increasing overall class size, but many students could not enroll in the courses they needed and ultimately dropped out. The school is trying to avoid a repeat of those mistakes...