Word: firms
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...people who have busted open that box are the architectural firm Diller, Scofidio + Renfro, working with the firm FXFowle. The husband-and-wife team of Elizabeth Diller and Ricardo Scofidio - they added Charles Renfro's name to the firm five years ago - were better known for years as thinkers, conceptual artists and seriously funny provocateurs. (One of their projects, the Blur Building, on a Swiss lake, was a "pavilion" that was mostly a fog of water vapor.) But over the past few years, they've proved that unconventional ideas can have solid, satisfying consequences. In 2006 they completed their first...
There's at least one profession for which the recession might not bite: dentistry. According to Sageworks, a firm that tracks private-company financial performance, dentists' offices had higher profit margins than any other industry in 2008. With average profit margins at 17%, dentistry outpaced accounting, tax preparation, bookkeeping and payroll services, legal services and mining support services among the top five performing professions in '08. Dental margins rose about 1.5% from 2007, according to Sageworks. (Read "25 People to Blame for the Financial Crisis...
...theory, a financial stress test looks at a firm's loans, assesses which will go bad and then concludes whether the bank will have money left when those accounts go unpaid. Pretty clear...
...reality, to run the test, you have to guess not just which borrowers will stop paying but also when. Some losses will be covered by profits elsewhere. So the firm's bottom line must be estimated. The variables leave plenty of room for the government to make some banks look better or worse, depending on the assumptions it makes. Not so cut and dried. (Read "25 People to Blame for the Financial Crisis...
...time when the hospitality industry appears headed for trouble. Corporations and consumers are slashing travel budgets just as a wave of new hotels is reaching the market. Some 5,400 hotels will likely open globally in 2009 and 2010, the biggest surge in a decade, according to research firm Lodging Econometrics. UBS real estate analyst Eric Wong predicts a glut. As a result, revenue per available room - a common measure of hotel performance - is expected to fall in every major market in 2009. "Everybody was trying to grab a slice of the action," says Wong. "Now a lot may start...