Word: flatted
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...just three years ago have folded or been folded into a few big companies like TaylorMade (owned by Adidas-Salomon), Fortune Brands and Nike. Earnings at Callaway (2000 sales: $837.6 million) failed to meet expectations, and the stock is down 40% from its 52-week high. "The industry is flat, and rounds played declined for the 10th straight month in a row," bemoans Callaway spokesman Larry Dornan. "This is unprecedented...
...desert here is monotonously flat, rising only for escarpments and ridges a couple of hundred meters high?ribs off the ancient, eroded spines of the MacDonnell and Davenport Ranges. From horizon to horizon there is nothing but red earth, squat, pale-green mulga trees and dense mallee shrubs. And when night falls, the darkness is almost palpable...
Western diplomats may have brought Macedonia's flat-lining cease-fire back from the dead for the umpteenth time, but few are optimistic about the prospects for saving the patient. Ethnic-Albanian guerrillas began withdrawing Thursday from territory they seized in and around the second city of Tetovo, and plans were underway to bus back some of the Macedonian civilians forced by the rebels to flee their homes. And while that may have averted the immediate threat of an inevitably bloody offensive by the Macedonian security forces to drive out the insurgents, the latest cease-fire may be little more...
...starters, here's the economic state of things headed into August. The economy spent the second quarter very near zero GDP growth, if not at zero or below. (O'Neill insists we're still in positive territory.) It won't get much help from businesses - Wall Street is flat, and will be for months at least, because most businesses are still recovering from those heady cash-burning days of the late '90s and are cutting costs as fast as they can. They're still selling off old inventories, which means they're cutting production (and workers, most companies' biggest expense...
...doing fine, so that even if growth sputtered elsewhere, there wouldn't be a disaster. The global economy showed the virtues of asymmetry during the Asian financial crisis of 1997-98. Fiscal and monetary corsets constrained Europeans as they prepared for the introduction of the euro; Japan was flat on its back. Assisted by the Fed's aggressive rate cutting, the U.S. consumer became the world's buyer of last resort, mopping up goods that would not otherwise have found a market...