Word: fallout
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...hadn't had a sense of whether Caroline was being affected by fallout from the attack or not - until this morning. Caroline's our family's word watchdog. If the parents use "stupid" in any context, she'll bring us up short: "Daddy, we don't say 'stupid.'" I have to keep explaining to her that the "but" I just used in conversation is not the "butt" she's not supposed to use. Anyway, one of her least favorite words is "disaster." She knows its meaning because at some point in each of the Madeline books Miss Clavell...
Does that mean you should ignore the financial fallout of what CNN is calling America's New War? Not at all. A recession is all but certain. Yet economically speaking, things haven't changed that much. We were in a severe slowdown and heading for recession before the attacks. Events will unfold faster now, deepening the impact. That should be your main concern. But don't fret about the economy's ability to rebound; it will, possibly even sooner and with more force than would have otherwise been the case. While waiting out the slump, here's how to survive...
...WORLD TRADE CENTER FALLOUT...
...bill for overlooking the needs of the 80,000 airline workers expected to be fired in the aftermath of the attacks. With most flights taking off at half-capacity and the major carriers announcing a 20 percent long-term reduction in the number of flights offered, the financial fallout will extend well beyond the airline industry. Boeing, the nation’s leading aircraft manufacturer, has already announced that it will lay off as many as 30,000 machinists and other workers. In response to these feared layoffs, Sen. Jean Carnahan (D-Mo.) has announced plans to introduce...
...such turn. That's probably too much to hope for this week as the stock market reopens. Those industries clearly hurt by the attacks will get a tough ride--airlines, hotels, media, insurance and financial firms. General Electric and Ford on Friday warned of lower profits because of fallout from the terror attacks. Amid the early tumult, few investors will want to buy. That leaves sellers in charge of the market trend, at least for a little while...