Word: downturns
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...grip of recession. Earnings at energy companies, for example, are expected to plunge 50%. Technology companies could see their incomes drop by a third. Consumer staples - companies like Procter & Gamble that produce toothpaste and toilet paper - could be one of the few sectors to escape the economic downturn. Goldman expects earnings for those companies to be flat in 2009 compared with last year, before rising...
...most sobering aspect of rising joblessness in California is that it is not the by-product of a downturn in one business sector. Layoffs have come from industries as diverse as technology, hospitality, finance, construction, and retail. Put another way, the firestorm has not spared anything...
...over who is to blame for the economic crisis. But after a three-hour meal of goat cheese, beef stew and apple crumble, they emerged as ratty as ever, barely concealing their long-standing gripes and graphically revealing how far the E.U. is from any coordinated response to the downturn...
...seniors will likely be spending the coming year living in Mom’s house, “working things out,” has gone from an unspoken reality to a common experience. Who knew a little banking crisis could make such a stir? Prior to the recent downturn, those in creative businesses—that is, the clothing designers, the restaurateurs and chefs, the advertisers–were certainly conscious of the extent to which the cash flow of the moneyed can affect their lives. Lower Manhattan eateries and boutiques, the large part of which stake their livelihood...
...Walker believes that Chinese policymakers aren't allowing the economy's excessive and unnecessary industrial capacity to die off naturally, keeping alive sick companies that could drag down the economy in the future. "By throwing money into the economy ... Beijing is running the risk of turning a nasty cyclical downturn into a structural problem that will take years to unwind," Walker writes. "Beijing is now embarked on perhaps the greatest policy mistake in its history." So much for optimism...