Word: gluts
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Dates: during 2000-2009
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...example, well-heeled attendees paid more than $10,000 each to stay in luxury tented accommodation - a far cry from the event's countercultural origins. And it seems that no large gathering - from Japan's Summer Sonic to Scotland's T in the Park - is without its gaudy glut of sponsors' logos. But for those who rail against the commodification of culture, there's always Burning Man (burningman.com). Now in its 19th year, this arts festival in the Nevada desert remains inexplicably free of meddling Loh and Behold Avant-garde murals and imaginative furnishings characterise a new Singapore hotel Identity...
...group said. Farmers reject the criticism, but the crisis could lead to a review of water-allocation policies in the four affected countries. Meanwhile, the European Commission is helping to ease the cereals shortage by providing emergency supplies from Hungary, Slovakia and other East European E.U. members with a glut on their hands - partly because of unusually heavy rain. Maybe the E.U. should pass a directive harmonizing the weather...
Backed by eager investors and generous banks, developers failed to realize that they were collectively building too much. The amount of office space available and under construction in the 22 largest U.S. cities has reached 318 million sq. ft., or about as much as 150 Empire State Buildings. The glut has rocked the real estate business and the financial system by sending rents and property values plummeting. "We have overbuilt in this country on an unprecedented scale," says J. McDonald Williams, managing partner of Trammell Crow, the largest U.S. developer...
...office-building market: more than 16% of total space is empty, compared with 3.5% in 1980. The vacancy rate continues to rise, in part because the building of offices is running 50% ahead of the growth in white-collar employment. Among the first cities to be hit by the glut were Denver and Houston, where demand for office space collapsed because of the downturn in the oil and gas industry. Hapless developers wound up with rows of "see-through buildings," thus named because they have so few occupants and interior fixtures. The developers of Houston's 34-story Phoenix Tower...
...stocks in 1985 climbed by a record $462 billion. While that was enough to spread some profits around to a lot of investors, the biggest winners were shares that started the year very cheap. Most energy stocks did not do very well last year because of the world petroleum glut, but Texas International, an oil and gas concern, rose the furthest among the 2,312 issues listed on the New York Stock Exchange. It jumped by more than 400%, from 1 1/8 to 5¾. Reason: a deal to develop oil wells in Egypt...