Word: downturned
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...time when consumers are cutting back on discretionary purchases, you'd think that new footwear would be sacrificed for savings. You'd also reason that expensive forms of recreation might also see a downturn. Golf, for example, is a game that more Americans are learning to live without...
Much like the rest of its industry, Harvard University Press is feeling the strain of the national economic downturn. Mary Kate Maco, publicity director of HUP, said that although the Press does not have specific numbers yet, she expects that sales declined similarly to the national average of 10 percent calculated by the American Association of University Presses. The AAUP’s recently-published survey reported that its member presses’ sales in both units and dollars are down roughly 10 percent for July through December of 2008 from the same period in 2007. Maco said that...
...recent weeks, Obama and his advisers have made clear that much of the rest of the world will have to step up to the plate, especially in 2010, if the economic downturn continues. "We don't want a situation in which some countries are making extraordinary efforts and other countries aren't, with the hope that somehow the countries that are making those important steps lift everybody up," Obama said last week, in a prime-time press conference. But so far, European leaders have resisted the call for more stimulus. German Chancellor Angela Merkel has said she does not want...
...been easy to take for the showpiece city-state, the most populous among the seven sheikdoms that make up the United Arab Emirates. Indeed, even as the rest of the world spiraled into crisis, the U.A.E. insisted its brand-name city would not be drawn in by the downturn. In fact, the U.A.E. established a "no news is good news" policy of sorts. In January the government announced that fines ranging from $13,600 to $272,500 would be levied against any media outlet that published news considered damaging to the "country's reputation or its economy...
...bubble has finally burst," says one American expat. Some people point to mixed blessings of the financial downturn. Rents, which were at unbearable highs last summer, have now plummeted at least 25%, and property prices are down as much as 50% since August of last year. But while there is some respite from the dawn-to-dusk hammering and drilling that came with Dubai's construction boom, some $8 billion in projects have now been either scrapped or put on hold. The city's notoriously brutal traffic jams have eased somewhat in recent weeks since the reported exodus of thousands...