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...biggest single-day drop since the October, 1987 crash - trading Thursday elsewhere in Asia pushed Hong Kong's Hang Seng down 4.8%, South Korea's down 9.44%, and Singapore Straights Times Index down 5.5%. Europe faired no better, with London's FTSE 100 and Paris' CAC 40 indices reflecting mid-morning declines of nearing 2.5%, and Frankfurt's Dax off 1.3%. Market commentators warned that trading could see-saw throughout the day, but expected European bourses to close down and Wall Street to open moving in the same direction...
...Until the mid-'90s, that is, when productivity growth rebounded, from about 1.5% a year to more than 2.5%. The engine apparently was the rise of the computer and the Internet. And the boom continued even after the technology bust of 2001. In 2006-07, productivity growth slumped to pre-1995 levels, before rebounding somewhat in the first half of this year. But year-to-year numbers can be confusingly noisy; it's the trend that matters. Gordon, who doesn't buy that computers and the Internet are nearly as economically significant as cars, electricity and their ilk, thinks...
...there's nothing he can do to keep the lights on. The mall's operators had been paying day-to-day expenses with financing obtained through a subsidiary of Lehman Brothers, the now defunct American investment bank. After Lehman's dramatic collapse in mid-September, the mall lost its funding source, couldn't pay operating expenses and was forced to liquidate. Tenants must be out within days. They have been told they will not be getting their deposits back. Kamoshida can't get over the feeling of being utterly blindsided. "I had no idea that Lehman Brothers had anything...
...become Kentucky's governor, Democrat Lunsford seemed not much of a match for minority leader Mitch McConnell, who has spent 24 years in the Senate. McConnell's campaign has raised nearly $18 million, while Lunsford had to loan $5.5 million to his. But where polls as recently as mid-September were showing Lunsford running 13 or more points behind McConnell, several since then suggest the race is a dead heat, and the national Democratic Party has begun pouring TV money into a state it had all but written off. Lunsford traces the sharp turn in his fortunes to a single...
...group soon fled into seclusion, taking on assumed names. He and his wife, fellow radical Bernardine Dohrn, turned themselves in after charges were dropped because of tainted evidence. (Ayers' famous quote afterward: "Guilty as hell, and free as a bird. It's a great country.") By the mid-1980s, Ayers had re-emerged as an education scholar and was on track toward tenured status at the University of Illinois. In the early 1990s, Chicago's mayor, Richard M. Daley, named him an assistant deputy mayor for education, and by the decade's end, he'd been named the city...