Word: flooded
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Dates: during 2000-2009
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...their successes, the partners of TPG have had their share of flops. They bought several confectionary businesses, including part of Kraft Foods' candy division for which they paid $200 million in 1995. The candy investment was bankrupt by 1999 because they failed to anticipate a flood of cheap competing products from Mexico. Their attempt to turn catalog clothier J. Crew into a bricks-and-mortar retailer resulted in an identity crisis that has alienated loyal customers...
...they would only grow more and more rice, Mao ordered peasant communes to "plant grain everywhere." In the 1950s, work brigades flew banners reading "Turn Waste Land to Great Land" as they drained the lakes along the Yangtze and its tributaries and seeded them with crops. Families settled on flood plains. The enormous Dongting Lake, once a valuable catch basin during years the Yangtze swelled with the melting snows of the Himalayas, is now half the size it was when Chairman Mao came to power...
...frequent disasters made the government look ineffectual, and that forced Premier Zhu Rongji, himself a Hunan native, to take action in 1998. According to Liang Haitang, a Hunan-based supervisor for WWF, an international conservation organization, Zhu dreamed up "the wisest flood control policy ever issued...
...order, eight lines that read more like a poem than a proclamation, stressed "New homes for the people" and "Provide livelihoods not relief." The aim is, in effect, to go with the flow. The government will move millions of people out of the flood plain around Dongting Lake. Many will give up rice farming for other businesses. Where their homes once stood will be a chain of shallow lakes and wetlands that can absorb the water that surges down the Yangtze and other rivers. Already 1.8 million people have moved, with another million expected to pack up over the coming...
Taxing Times In Germany Just one month before the German election, Chancellor Gerhard Schr?der said he would drop January's personal tax cuts, and perhaps raise corporate taxes from 25% to 26.5% to pay for flood relief. But there is good news: the cleanup should boost Germany's troubled construction industry...