Word: messes
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...every move, fretted about the arrangement but saw the chance to double their fees if they just kept their heads down. And now that the party's over and the damage control is in full swing from Houston to Chicago to Washington, just about everyone who helped create this mess is busy pointing fingers, scapegoating the other guys, firing the lower-downs and diming out the higher-ups. Last week what was once envisioned as a new kind of company resembled little more than a circular firing squad of executives, accountants, consultants and lawyers, all fighting to stay in business...
...Trent Lott's hometown of Pascagoula, Miss. The company hit the rocks last fall, citing a decline in tourism due to terrorism and leaving its debts unpaid and its ships at the dock. Republican Congressman Gene Taylor of Mississippi came up with a plan to solve this pork-barrel mess: more pork barrel. Taylor wants the U.S. Navy, already strapped for cash trying to keep its dwindling fleet of 320 warships afloat, to spend several hundred million dollars to buy the cruise ships. Taylor got language added to the 2002 defense bill suggesting the Navy finish the vessels...
Plenty of issues remain. Japan's banks have $1 trillion in bad loans on their books, and there is no comprehensive plan for dealing with the mess. The slumping economy will push earnings down 20% or so this year, and a deflationary spiral is keeping just about everyone from making any meaningful investment in the stock market. So prices keep drifting lower. Amazingly, the bellwether Nikkei stock average is now at levels first reached in 1984, down 73% from the 1989 peak...
...should be thankful: the railways are a mess, his government now admits it needs higher taxes to fund health care, and a U.S. war with Iraq remains a possibility...
...year. And he fired up his own boilers a bit, saying he was "outraged" by what happened at the Texas firm. But the Bush team didn't stop there. By late last week, it got out a few more iron shields to wedge between the White House and the mess in Texas. On Friday the Administration announced that it had ordered a government-wide review of more than $60 million in federal contracts with Enron and Andersen. Mitch Daniels, Bush's budget director, said the move was "purely a management issue...