Word: downturned
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...take a deep breath. After a brief but painful downturn marked by widespread layoffs, a morale-crushing bear market in stocks and the virtual shutdown of the travel industry post-Sept. 11, the rich smell of recovery is in the air. Even basset-faced Alan Greenspan has picked up the scent. "Recent evidence increasingly suggests that an economic expansion is already well under way," the Fed chief told the Senate Banking Committee...
...best run companies in retailing, from Amazon.com to Costco, got where they are today by emulating Wal-Mart’s success. Wal-Mart’s economic impact may even go beyond the productivity statistics: because of its amazing shared data, suppliers were able to see the downturn in the economy more clearly than they have in past downturns, and they cut their production and inventories sharply in response. That alone may have lessened the severity of last year’s recession...
Many council members say they also blame a downturn in the online marketplace for the decline of UC Books...
...result of declining demand, U.S. airlines have parked or retired 350 planes, according to the Air Transport Association, the trade group representing major airlines. That means fewer flights to chose from. And the downturn in travel has left smaller airlines increasingly vulnerable to consolidation, further cutting the number of options available to passengers...
Criticizing the Bush administration for its pinning of the recent economic downturn on Clinton-era policies, he asked, “Was it Clinton’s fault that it was the mildest recession in history...