Word: downturn
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...shibboleth: a proposed constitutional amendment to mandate a permanently balanced budget. The idea, which enjoys support among a smattering of Democrats, is opposed not only by Rubin and the President but also by Greenspan. They point to the rigidity of the notion in the event of an economic downturn, and argue that it is inappropriate in the Constitution. "As strongly as I favor fiscal responsibility," says Rubin, "I oppose a balanced-budget amendment, because of the real risks it poses...
...that process could take two years and the union calls it a delay tactic. Working now on a contract negotiated when American was in poor financial shape, the pilots haven't had a raise since 1993, and demand an 11-percent raise over four years. Crandall, fearing another downturn in the cyclical airline business, feels that giving too much now may cost the airline dearly later. But a strike could cost more -- the airline stands to lose more in the first week than it stands to gain by winning the contract dispute. In any event, industry analysts don't expect...
...credentials to get good jobs from those individuals, many of whom live in inner cities, who lack the basic education to cash in. Significant regional variations apply too. Beyond Wall Street and Boston's high-tech belt, the Northeast has barely begun to recapture jobs lost in the last downturn. And the fear of downsizing still sends shivers through offices and factories at Fortune 500 companies everywhere, destroying any sense of job entitlement and dampening employee wage demands. "It's almost a paradise for job seekers in the U.S. right now," says John Challenger, executive vice president of Challenger, Gray...
...Presidents of the United States of America that have thrived on video exposure. "What MTV does is both lead and reflect what's going on out there," says MTV programming director Andy Schuon. Some observers partly blame the channel's haste to introduce new acts for the current industry downturn. "MTV often breaks acts too quickly," says a lawyer for several well-known pop acts. "As a result, bands don't have the fan base they would normally develop by touring--they don't have a chance to build an audience. MTV also burns out its acts. They take alternative...
Could dole have run differently? Was victory ever in the cards? Perhaps if he had been himself, the difference too few Americans perceived may have resonated more profoundly. At each downturn in his fortunes, Dole promised that "from now on, you'll see the real Bob Dole." In retrospect it seems that the real Bob Dole emerged only once: when he resigned from the Senate. It was a moment when he could have tacked many ways. He was fond of saying that "in a record of more than 12,000 votes, you can make a case for just about anything...