Word: downturn
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...most part, presenters and winners made light of the current economic downturn. As the speaker for Print & Zine Webby winner Plastic.com joked in his five-word acceptance speech, “Bankruptcy never felt so good...
...free trade politicos in Washington tend to agree: With the tax cut now law and almost no chance of passing further rate reductions, the President doesn?t have many tools to goose the general well-being or even rhetorically help ease peoples? fears about the downturn. Talking about trade in positive, pro-domestic terms lets him connect with their pockets to at least show that he?s not out of touch...
Politicians love to say "I told you so," particularly if it makes a political enemy squirm. That's why the economic downturn now has Democrats tuning up their "I-told-you-so" chorus. As the economy worsens, the federal government collects less in taxes. The White House is already predicting that revenues will be down by $56 billion for the 2001 fiscal year. And economists who testified recently before the Senate Budget Committee predicted that revenues would shrink another $50-70 billion...
...used to, anyway. Tuesday, American Greetings Corp., one of the nation's largest card companies, posted a net loss of $80 million, or 15 percent, for the quarter ending May 31st. The card giant blames its downturn on the success of low-cost competition, like cut-rate brands, e-cards and new web sites that will sign and send personalized cards to anyone you choose...
...first glance, Lincoln Electric, the $1 billion Cleveland, Ohio, maker of arc-welding equipment, seems like every other U.S. corporation trying to weather the current economic downturn--heartless. It is slashing overtime, cutting temps and applying an elaborate rating system to assess employee performance. But no matter how bad things get, or how low they score, workers at Lincoln won't flunk...