Word: downturned
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...grew largely from certain issues: An unsustainable boom in home prices—propped up in part by daredevil lending—led to a rapid depreciation in home values. When transmitted through securitization, this loss of wealth resulted in a crisis of confidence in credit markets and a downturn in economic activity...
...wanted to secure access to minerals. To that extent, the investment was a "strategic" one on China's part. The Australian government considered blocking the deal but did not. Perhaps debt-laden Rio made the case that it needed the money too much to help it through the economic downturn. (See pictures of China's electronic waste village...
...world should have learned anything from the worst economic downturn since 1945, it is to heed those who warn that danger is ahead - and to listen to those who argue that it is precisely the least expected catastrophe (a "black swan," as they are now known after Nassim Nicholas Taleb's 2007 book of that name) that can do the most damage. That does not mean we should all live, risk averse, cowering in a cave of our own making. It does mean that it behooves us to listen to those who, based on knowledge and insight, warn...
...afford to lose hugely valuable vessels and cargo to seaborne bandits. Indeed, insurance premiums have risen along with the ransom amounts, according to Regester, who estimates that coverage for a single voyage through the Gulf of Aden costs about $20,000. With shipping companies hard-hit by the global downturn, some opt simply to take their chances running the gauntlet of pirates, rather than pay insurance premiums. "I reckon less than 10% of vessels are insured now," says Regester. "K&R policies are considered a luxury." Whether or not they are covered, many companies pay ransoms, calculating that...
...During the downturn, auctioneers in Michigan, Indiana, Tennessee, Pennsylvania, Georgia and other places have either added groceries to their programs, or increased the frequency of food sales. Grocers are eager to hand over their goods to the auction houses once they know they're not going to sell them in the store. For example Clyde DeHart, owner of DeHart's Auction Service in Carlisle, Pa., takes "scratch n' dent" items from a nearby BJ's Wholesale Club store. Since BJ's sells in bulk, if one can of corn gets smashed in the truck, the whole case...