Word: dropping
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...After a bust-out 2007-08, that's not so bad. Last winter, skiers and snowboarders bought a record 60.5 million lift tickets. A 6% drop would translate to some 57 million tickets sold, a figure that would beat the 55.1 million total in 2006-07, a season when the economy was still frothy but the snow was lousy. Further, in the 30 years the National Ski Areas Association has tracked such data, the industry has sold more than 57 million tickets during just six seasons, each occurring in this decade. "At the end of the day, there...
...could have imagined that Japan, the second largest economy in the world, would contract at a rate of nearly 13% on an annualized basis or that Korea's economic output could drop 20%. In the U.S., the GDP is shrinking at a rate of 6% now, but there is nothing in the economic or employment news that keeps us from believing that America will avoid a double-digit drop in GDP If the U.S. skids at that rate, the other large economies in the world, all of which depend on the American consumer to some great degree, will have...
...reasons that the drop in economic activity has accelerated is that there is no mechanism in place to cope with a failure of this magnitude. The world in which The Great Depression played itself out predated the globalization of credit and economic interdependence. Even the worst of the large post-war recessions rarely lasted more than a year. Even at their most inventive, government policy systems are incapable of operating in an environment where the pace of negative change quickens by the week...
...strategic infrastructure fund, an annual 0.5 percent levy on Harvard’s endowment created in 2002 to support capital projects in Allston, may fall short even of future expenses demanded by existing plans, due to a projected 30 percent drop in the endowment’s value this fiscal year...
...works for almost two years. Despite recent reassurances about commitment to House renewal from University Hall, University President Drew Faust questioned expanding the House system in December, when she challenged the desire for and affordability of new Houses in Allston. The endowment’s 30-percent drop over the past fiscal year certainly could not have been far from mind...