Word: downturn
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...cutting measures at LTU are in place to return it to profitability by 2003. Swissair, the airline, has also been losing money ($110 million in 2000), even with load factors above the industry average. Swissair does have some businesses like Gate Gourmet, an airline caterer, that are profitable and downturn-resistant. With the worldwide industry in descent, it could do with a few more. But for now, the company has a new management in place, a new business strategy and a new name - or, rather, an old one. Symbolically, Conti dropped the unevocative SAirgroup and changed it back to Swissair...
...same time, analysts agree that the downturn will make the EMS giants even more powerful. The EMS business has already grown to more than $100 billion in sales in 2000, from $60 billion in 1998. It is expected to reach $130 billion in sales this year, according to Technology Forecasters Inc., and $260 billion...
...noticed tax breaks: $16 billion over 10 years for small businesses and folks who save for medical care. In all, about $80 billion in tax cuts have been approved in addition to those enacted in Bush's tax-cut measure. Where's the money coming from? Despite the economic downturn, the answer from House Republicans still is, the surplus...
...sleeping and wondering how he would ever provide them with a better life. His business shortcomings were not for lack of effort or seriousness?he had been using his vaunted scientific reasoning, yet every time he launched a new venture, he would be blindsided by a real-estate downturn or a baht devaluation. If you know that feeling of failure, he says, the futility of trying your best and still screwing up, you discover new strength of character and fortitude. "One of the hardest things for any man to do is to tell your wife you've failed," he says...
Europe has been getting that sinking feeling all year, an inevitable result of the U.S. economic downturn. After expanding 3.4% in 2000, the single-currency system could see its growth plummet to 1% or less this year. But here's the rub: even as the 12 member countries' economies languish, the European central bank, which conducts a single monetary policy for all euro-zone nations, has been very skimpy in lowering interest rates. After seven rate increases within a year, the ECB grudgingly dropped rates just once, on May 10--and then by a quarter of a percentage point...