Word: downturn
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...system itself. Where state education officials denounce these figures as evidence that Massachusetts public colleges are over-emphasizing their more profitable graduate programs, the real explanation is economic. Business journals and newspapers across the country have been reporting rises in graduate school enrollment since the start of the economic downturn. A sour job market makes academia seem sweeter. And state funding cuts, which have caused some Massachusetts public colleges to reduce enrollment, are doubtless to blame for the reduction in undergraduate diplomas awarded...
...that China's banks suddenly found so many new creditworthy ventures, says Nicholas Lardy of the Washington-based Institute for International Economics. "We've seen the greatest credit expansion in the past 25 years," he says. "I'd expect companies that borrowed heavily to face difficulties when the next downturn starts...
Prada the company has not been immune to the economic downturn and has some challenges ahead, including a heavy load of debt that it has been working to pay off. But one thing Prada the woman is unafraid of is a good fight. And more often than not, she wins. --By Belinda Luscombe
...recent advertising downturn clearly has taken its toll. Ad pages at Forbes magazine fell 49% between 2000 and last year. In an interview with TIME, Kip Forbes, the third eldest of the siblings (there are four brothers and a sister), dismissed speculation that the flagship might be listing. He conceded that revenue for Forbes Inc. was down in 2003 from the previous year but said there was "no connection" between the Faberge egg sale and the tough business climate that has depressed revenue at all business publications, from the Wall Street Journal to TIME's sister publication Fortune. Without elaborating...
...Frankfurt Modern Art Museum director Jean Christophe Ammann) and derided as the "Sylvester Stallone" of painting (TIME critic Robert Hughes). But he conquered the market with price tags of $300,000 and beyond, and captured his share of limelight as well. In the '90s, as painting took a cyclical downturn, Schnabel veered off into filmmaking, and even a one-album gig as a pop singer. His comeback show in Frankfurt, the most comprehensive retrospective of his work since a 1988 exhibit at New York City's Whitney Museum, covers the artist's various phases - figurative neo-expressionism combined with abstract...