Word: downturn
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...current version of Windows, Vista, has been received so poorly that many businesses and consumers have not upgraded from Windows XP. Now Microsoft faces the challenge of getting the same groups to spend money on new software during a downturn...
...just might take a sideshow to draw wallet-wary fans to the track. The economic downturn is threatening to decimate high-cost motor sports. For example Formula One, the world's most popular auto-racing circuit, is facing its biggest crisis in 40 years, according to Max Mosley, president of the sport's governing body. He compares F1's status to the global housing and credit bubbles. And since Honda, which had spent about $300 million annually on Formula One, decided to pull out of the sport altogether, F1 has blown a tire. (See pictures of car art by Warhol...
...NASCAR position itself to motor through the downturn? The sport has to start with its costs, which exploded during NASCAR's stunning growth spurt earlier this decade. "The old adage was, If you need $1 million in expenses, go get $1 million in sponsorship," says Mike Dee, president of Fenway Sports Group, which owns 50% of the Roush Fenway Racing team. "The railroad doesn't run that...
...what do we do about this? During the last recession, in 2001, President Bush famously urged the American people to get out and shop--and visit Disney World--to thwart the downturn. We did, and the recession was mild. It was followed, though, by an explosion of debt and imprudence. The savings rate (the percentage of personal income left after spending) fell below 1% for the first time since the early 1930s and stayed there from 2005 through 2007. Millions of Americans spent trillions of dollars on things--houses, mainly--they couldn't afford...
...community.”Especially at a time when Harvard’s financial standing is sure to delay some of the Task Force’s larger proposals, Coriel’s class proves that the University can still provide an innovative arts curriculum despite an economic downturn. “Of course the economy is impacting everything that this university is doing,” says Megan. “But I think that continuing to seed new intensive, high impact engagements with teaching artists remains important.” Smaller initiatives like this seminar can maintain...