Word: downturn
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Future progress might be stifled by an economic downturn. University of Maryland sociologist Bart Landry, author of The New Black Middle Class, predicts that by the end of the next decade 56.4% of all black workers and 63% of all white workers will be in the middle class -- provided the economy expands at a healthy clip. If it does not, Landry warns, the expansion of the black middle class could come to a sudden halt. Says he: "During periods when the economy is tight, discrimination asserts itself...
...climbed from some $965 billion in 1982 to $1.8 trillion this year, a rise from 32% to 37% of U.S. gross national product. LBOs can be especially worrisome of borrowing, because they replace virtually all of a company's equity with IOUs that must be repaid. A sudden downturn can thus put a firm heavily in hock out of business. "High leverage is unsafe, not just for a company but for the entire economy," says M.I.T. economist Franco Modigliani, a Nobel laureate. Modigliani adds that while the debt mountain has not yet grown perilously high, "LBOs are reducing the safety...
...have won the 1948 election. Truman managed to mount one last crusade against the memory of Herbert Hoover, but the Republican triumph in 1952 was all but inevitable. "I don't see how George can play the populist role for too long," Phillips says. "If we get an economic downturn, he can't get away with pork rinds and Loretta Lynn...
...were more pleased than alarmed by the figures. Many had been afraid that the economy was overheating and that mounting inflation and higher interest rates were on the way. Now analysts are more confident that the economy stands a chance of avoiding those perils without going into a sharp downturn. "There is no reason for worry in this GNP result," said Allen Sinai, chief economist of the Boston Co. investment firm. "Growth of just under 3% is pretty good. This is more like a soft landing than a recession...
...kote's $55.6 million in debt amounts to more than eleven times equity. If sales plummeted or interest rates rose, those debt loads could become crippling burdens. The new manager-owners have made a good start at running their companies, but the test will come during the next economic downturn...