Word: downturn
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...sales, really? After edging up in May, sales dropped again in June below the 10 million-unit annual sales pace, which puts new vehicle sales at the slowest pace since the recession in 1958 - a downturn that forced some carmakers, notably Packard, to shut their doors for good. Meanwhile, each of the Big Six (the three domestic carmakers plus Toyota, Honda and Nissan, which together account for 75% of all vehicle sales in the U.S.) reported double-digit declines in sales. The declines ranged from 11% at Ford to nearly 42% at Chrysler. German automakers such as Volkswagen, BMW, Porsche...
...Harvard announced little more than a month ago that its Executive Vice President, Edward C. Forst ’82, would leave Harvard in August for Wall Street, where he had worked for 26 years. Forst worked closely with Sweet in his role overseeing University finances amid the economic downturn...
...letter, Smith wrote that the global economic downturn forced FAS to reexamine all of its spending, including the compensation costs that make up nearly half of the School's operating budget. He said that previous cost-cutting measures such as the early retirement program, salary freezes for faculty and exempt staff, limitations on new hiring, and offers of reduced hours did not achieve the necessary budget reductions...
...democracy. William Joseph Maier Professor of Political Economy Professor Benjamin M. Friedman’s April 6th lecture, “The Economic and Financial Crisis: Also a Moral Threat,” suggested that anti-immigration policy in the U.S. was correlated with times of economic downturn. Italy is certainly facing a rough economy. Just two weeks ago the The Organisation for Economic Co-operation and Development released a report stating that the organization did not see an end in sight to the Italian recession. Following Friedman’s hypothesis, it would make sense that xenophobic tendencies might...
...example, raising interest rates - now effectively zero - too quickly could nip a recovery in the bud. "We need to be careful about the response of the market and the economy to the expected government's and central bank's exit policy," says Kanno. "Normalization policy may trigger the next downturn...