Word: downturns
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...institution with a long-term horizon, Harvard can afford to take relatively low-impact steps to address its budget shortfall. So far, Harvard has not had to follow the lead of the market in issuing a shower of pink slips. However, Harvard is far from immune to the market downturn, and, while we would ideally want to avoid cutbacks altogether, restricting salary increases and new hires is a reasonable decision that will minimize impact to our community, while hopefully helping to ease a significant portion of the $100 million shortfall...
...downturn in real estate prices over the past year has hardly helped the owners of these rental units. According to Patricia A. Whiting, a clinical instructor affiliated with the Legal Aid Bureau, foreclosure evictions have spiked over the past months, after a 90-day waiting-period law on all foreclosures expired in August...
According to a press release from Princeton, the Robertson Foundation, originally established with a $35 million stock donation by Marie Robertson in 1961, was at one time valued over $900 million before the recent economic downturn...
...That's especially bad news for General Motors, currently begging for a bailout from the U.S. government. China has been a rare success story for GM in recent years, where its Buicks and Chevys have been consistent market leaders. A sharp downturn in China, auto analysts say, will add to GM's woes. While sales of Chevrolet-branded cars have remained robust, sales of Buicks fell 14% so far this year, according to GM. Still, GM remains committed to China, where earlier this month, Kevin Wale, president of GM China, said the company plans to introduce 10 new models...
...many smaller Chinese makers might prove even more vulnerable to the downturn. These firms lack the technology, quality and brand recognition to easily compete with foreign players in a downturn. In a crowded market - with more than 40 Chinese brands - the slowdown may weed out the sector's weaker players. "There are too many manufacturers" in China, says John Bonnell, director of forecasting for Asia at J.D. Power in Bangkok. "We can expect a shakeout...