Word: downturned
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...question of how to put the economy on its feet. The divisions boil down to classic party philosophy: Republicans want most of the roughly $75 billion to be spent on tax cuts for businesses and individuals. Democrats say the benefits should go largely to those hurt most in a downturn, both in tax cuts to lower- and middle-income Americans and direct aid to the unemployed...
Most important, and perhaps ironic, a downturn in the bonus economy could cause a wider ripple effect than traditional layoffs. "The pain is now spread through more people in the company," notes Steven Gross, a compensation expert with the firm William M. Mercer consulting. "The drop in bonus pay will have an effect on consumer spending. And it could be dramatic." Just how dramatic? Thanks to cutbacks in variable pay, personal income in the first quarter of next year could drop as much as $30 billion, according to a study by economist John Youngdahl of Goldman Sachs...
...cause American demand to nosedive a further 20% by the end of the year. That would be catastrophic for countries like Singapore, which has been in a full-blown recession since July, and Taiwan, where economic misery has already reached levels unseen since the early 1970s. A global economic downturn isn't Taiwan's only problem: earlier this month, a record-breaking typhoon swamped Taipei, causing more than $2 billion in damage...
...back tending fields and renting rooms to refugees from East Timor. Of course, with visitor numbers down, Lombok is also very good value. But, more importantly, islanders swear they have learned their lesson. The Muslim militias blamed for much of last year's troubles also suffered in the downturn. They profess a new determination to see that everyone gets along fine. And with a new national President in Megawati Sukarnoputri, hopes of Lombok's resurgence are high. "With Mega, tourists will come," says Roy. While he is sorry for the refugees, their cooking fires ruin his rooms, he says. "Mega...
...publishers I spoke to, large or small, anticipate long-term business effects outside of the general economic downturn. "If history proves anything it is that in times of great national stress, the need for entertainment is even more pronounced as people need to take their minds off of the daily horrors. I do not anticipate a sales slump," says Jim Valentino, Publisher of Image comics. Very small publishers and their creators may have experienced a short-term business side effect when an important convention was cancelled. The Small Press Expo was scheduled to meet in Bethesda Maryland, outside Washington...