Word: downturn
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Harvard's money managers say they are confidentthey can see this welltimed payout through amarket downturn, like the one earlier this year inwhich Harvard lost $1.3 billion...
...capital city can finally offer the Pats what the Bay State has not--respect. After years of exile in Foxboro, it's time the Pats got a taste of a place that would be proud to have them in its capital city. Nearing total recovery from the economic downturn of the early 90's, Hartford promises to be the region's next hot spot and will treasure the team as its crown jewel...
While Malaysia thrived, few complained about Prime Minister Mahathir Mohamad's authoritarian inclinations. But the Asian economic downturn has thrown his tactics into new focus. He has come under heavy criticism for his treatment of Anwar Ibrahim, his reformist former deputy, who now sits in Sungai Buloh prison accused of sexual improprieties and corruption, charges Anwar and others in the opposition say are trumped up. President Clinton, who visits Malaysia next week, will avoid meeting Mahathir, partly in response to Anwar's detention. This interview, in which Anwar, pictured at right, responded to written questions, was smuggled out to TIME...
...Atlas Asia-Pacific, which distributes paint and automotive oil in Asia, management used a combination of work-force reduction and other strategies to save itself from diving markets overseas. Atlas, of Burlingame, Calif., suffered a catastrophic 65% drop in sales this year. The downturn led the company to lay off four of its 16 employees and to slash its travel budget from $450,000 to $75,000. With the help of its suppliers, Atlas cut the cost of its products in order to keep its struggling customers. "It's been the most difficult time in our history...
...large equipment purchases in December and to start full production in February. He says he's not bothered much by what is going on around him. "I'd always assumed we would be dealing in a very volatile market," he says. "I knew there was going to be a downturn. I just didn't know it was going to be as large as it was in Asia." McCarthy, who says he factored a market crash into his plans from the start, may have hit upon the boldest approach to the new global economy: Damn the torpedoes! Full speed ahead...