Word: growth
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...retailer, has seen better days. Yes, profits rose 22%, to $4.63 billion, in the fourth quarter of '09. Even coming out of the Great Recession, many consumers are trading down to shop at the discount superstore. However, for the third straight quarter the store saw negative same-store sales growth; during the last three months of 2009, same-store sales dropped 2%. Overall traffic in Walmart stores was down too. To Walmart executives and investors, this disturbing trend has to be reversed; despite the earnings growth, Walmart's stock fell 1.1% on the day earnings were announced. "We want...
...keen on bringing a more global vision to the family business. The next week, Ivanka visited Panama City and liked what she saw. "Panama is a spectacular, thriving country, changing by the day," Ivanka told TIME in an email. "It's been amazing for me to see the growth of Panama City first hand." "She's a very intelligent young woman," Khafif says. "Sometimes I think she's even smarter than her dad about certain things." The contract was signed and the project was launched in New York City in 2006 - the same day authorities back in the Latin American...
...Green jobs are hardly the economic cure-all they are often made out to be. They currently account for only about 0.5% of the U.S. workforce, and plenty of the industry's job growth is likely to happen overseas. China is already the world's largest manufacturer of solar panels. But the model provided by green-energy players is the right one: create new products and new markets, and watch new jobs flow. Without the personal computer, we wouldn't have Google and its 20,000 employees. Without everyday low-cost pricing, we wouldn't have Walmart...
...These new companies are key to job growth. People talk about small businesses being such great generators of jobs, but a more precise assessment is that young businesses are. John Haltiwanger, an economist at the University of Maryland, has been studying government data for 25 years and has determined that about a third of all new jobs created come from start-ups. Furthermore, young companies add jobs faster. From 1980 to 2005, the typical 15-year-old firm added jobs at a rate of 1% a year, the typical three-year-old firm at a rate of 5%. "These...
...conundrum is that the most useful things government can do to encourage job growth aren't flashy initiatives with quickly visible results. "There's no magic wand we can wave over companies that will induce them to go out and hire people," says Matthew Slaughter, an economist at Dartmouth's Tuck School of Business. "We need to think long-term...