Word: downturn
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...years to the life of data storage. And who knows? With earth-bound economic institutions in turmoil, even if we mess this planet up maybe someday we can still find an IKEA on the moon. THE BOURSE Bear market bargain Hamleys, the British toy-retailing institution, used the economic downturn to go bargain shopping, buying defunct English Teddy Bear Co. for $1.1 million. Disastrous Insurance Europe's ailing insurance industry claimed a few more casualties. Top executives at Italy's Assicurazioni Generali and Britain's Royal & Sun Alliance stepped down, and Sweden's Skandia put its once-lucrative...
...Economy Minister Francis Mer have similarly been at odds on fiscal policy. Their most notable mixup arose over possible tax cuts in 2003?a must if Chirac's extravagant campaign pledge to reduce taxes by 30% before 2007 is to be met, but a difficult task during an economic downturn. Such floundering has led some pundits to dub Raffarin's team "the Laurel and Hardy government...
...wonder, then, that since 9/11, which accelerated the worst downturn in U.S. aviation history, the major carriers have been whistling in the dark, waiting for their business to return to "normal." But with US Airways' move last week to seek bankruptcy protection, United's warning that it was sliding that way and American's announcement of "fundamental structural changes," the majors as much as admitted that they can't wait any longer for the friendly skies to return. They have to start building a new business model--one focused on both leisure travelers and the growing ranks of business travelers...
...then you might begin to say we are seeing global warming in action." Global warming or not, most people's minds are now focused on cleaning up the mess and preventing it from happening again. For the Czech Republic, which has so far escaped the worst of the economic downturn hurting most of Western Europe, the deluge represents a sharp reversal of fortune. Thirteen people died in the floods and 215,000 were evacuated, while the damages may exceed $2 billion, with the country's infrastructure, manufacturing base and tourism industry taking the biggest hits. More than 30 bridges have...
...first time in Eisner's reign, nearly every Disney division is sputtering. Ratings at its ABC network are horrible, and the theme park business is suffering from the economic malaise and post 9/11 downturn in travel. Takings at the new California Adventure theme park in Anaheim, one of two new locations, have been disappointing. The film studio is muddling through, and its relationship with Pixar Animation, which produced Toy Story, may be renegotiated on less profitable terms. Such ills have a symptom. Last week, Disney stock hit an eight-year low, closing at $14.65 - down 66 percent from its high...