Word: impact
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...statement about the extended holiday shutdown, Chrysler said the lack of financing for car loans contributed to the move. "Due to the continued lack of consumer credit for the American car buyer and the resulting dramatic impact it has had on overall industry sales in the United States," the action was needed, the company said. At a recent meeting between Chrysler management and dealers at Chrysler's headquarters, the dealers asserted that they have willing buyers for Jeep and Dodge vehicles but are unable to close the deals due to lack of financing. "The dealers have stated that they have...
...that used to be commonly heard in Asia: "Too big to fail." There was a time when politicians, bankers and bureaucrats in Asian countries thought that certain large enterprises were simply too important to go bankrupt, no matter how miserable their performance. The resulting unemployment would be unacceptable, the impact on the financial sector and economic growth too great. That, in effect, is the same argument being used today by supporters of a government rescue for the cash-burning U.S. auto industry. The consequences of allowing a manufacturing giant like GM to collapse would, their thinking goes, be too onerous...
...currency strategist in Tokyo at JPMorgan Chase & Co., believes the dollar-yen exchange is reaching a sustainable average. "The yen's level until last year was abnormally weak. Now it's coming back to normal," he says. Compared to the mid-1990s, he says, the strong yen's negative impact on the Japanese economy is "not that large." To have the same effect as the postwar peak in 1995, the exchange rate would have to reach 48 yen to the dollar, he says, because the U.S. economy has experienced 40% cumulative inflation while Japan has remained relatively flat...
...Opec should continue to determine - or apparently not determine - what everyone pays for their oil," says Nick Butler, chairman of Energy Studies at Cambridge University's Judge Business School. A key objective, adds Robert Mabro, president of Oxford University's Institute for Energy Studies, would be to negate the impact of financial speculators on oil markets. "There is no logic in the world for oil to go from $50 to $147 in six months, and back to $43," he says...
...There are differences too, of course. For one thing, today's terrorists have replaced Marxist ideology with religion. But that distinction may not be as great as we think. "If it was just about religion it wouldn't have the same impact," says Hoffman. "Religion is just the glue that holds it together, but it's not the most important part. It's political...