Word: fourth
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Dates: during 2000-2009
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...down. The average rent in the U.S. fell 0.4% in the last three months of 2008, according to a survey of large apartment buildings in 79 metro markets by real estate analytics firm Reis. Even though landlords often find it tough to raise rent prices in winter months, the fourth quarter's decline is significant for being the first quarterly drop since the beginning of 2003. (See who's to blame for the financial crisis...
...Yesterday, three pieces of news hit the markets. China's GDP growth moved down to just over 6% in the fourth quarter. Its economic expansion has been running a hot 10% for more than five years. At the same time, Japan announced that its exports had gone off a cliff, down 35% in December. And, in Korea, GDP actually fell...
...many drool. GDP for the world's third-largest economy surged 9% in 2008 from the year earlier. But first looks can be deceiving. The statistics also showed just how quickly and severely the global economy decelerated in the latter part of the year. China's growth in the fourth quarter, at 6.8%, was the slowest the country has experienced in seven years. Compare that figure to the first half of 2008, when growth was more than 10%, and in 2007, when China posted an eye-popping 13% rate. As Stephen Roach, chairman of Morgan Stanley Asia, put it: "China...
Richard Parsons is the new face of the struggling, bailout-needy Citigroup. The former CEO of Time Warner Inc. (TIME's parent company) became Citi's Chairman just days after the company announced an $8.3 billion fourth-quarter loss - its fifth quarterly loss in a row - and revealed that it would separate its retail banking business from the risky assets dragging it down. Citi may be taking on water faster than it can dump it out, but Parsons is no stranger to financial struggle. When he took over AOL Time Warner in 2003, the media conglomerate was $27 billion...
...Richard Dean Parsons was born April 4, 1948 in Brooklyn to Lorenzo Locklair Parsons and the former Isabelle Judd; he was one of five children. Parsons was raised in South Ozone Park, Queens, where he watched Fourth of July fireworks provided by the Gotti crime family and once nearly blew up a friend's house trying to make rocket fuel on the stove. His mother still lives in Queens, and he regularly escorts her to lunch...