Word: downturning
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...companies that dish out millions for sponsorships won't be able to justify sports-marketing expenditures to their shareholders. "The new model that has emerged over the last two decades is not going to hold up," says Zimbalist. "It's not conceivable that sports will be impervious to a downturn...
...plunging. "This is not like the 1970s," says Chalabi. "OPEC has become a price-taker, not a price-maker." Still, if taking a couple of million barrels a day off the market has its desired effect, OPEC will once again be cast among the villains of the current economic downturn...
...side of globalization: the world is now so interconnected that trouble in one place, especially somewhere as economically powerful as the U.S., can and does easily spread elsewhere. For a while, Turks - like Chinese, Brazilians, Indians, Hungarians and others - thought their buoyant domestic growth could insulate them from a downturn in the U.S. and Western Europe. Now they're discovering that it can't. "A lot of us gave credence to 'decoupling,' " says Ümit Boyner, who together with her husband runs a big Turkish retail empire. "Looking ahead, we're wondering if we've even seen the worst...
...living in a boom, it's quite a change. But they've been through hard times before - much harder times, and not all that long ago. As Ümit Boyner says, "We have a saying here: "If you go into the hammam, you have to sweat." If a downturn at home is the price of greater integration into the world economy, so be it - as long as it doesn't last too long. - with reporting by Pelin Turgut / Istanbul
University President Drew G. Faust began yesterday’s meeting of the Faculty of Arts and Sciences with a 10-minute address on the effects that the recent downturn in the financial markets might have on Harvard. The remarks, moved up to occupy the spot in the meeting agenda normally reserved for the business of the Dean of the Faculty, emphasized that, despite being the world’s wealthiest institution of higher education, Harvard would not make it through the downturn completely unscathed. Faust added that resources are being allocated to cope with the situation...