Word: modell
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...this point the car will not have a warranty and generally it is owned outright by the driver. Car owners are waiting much longer before trading their old autos in for new ones. A generation ago, it was not unusual for middle class Americans to buy a new model every two or three years. That is no longer an option even with car prices and incentives as attractive as they have ever been. The American consumer is frankly too terrified to take on a monthly payment that could be in the hundreds of dollars to buy or lease...
...hemorrhaged manufacturing jobs and the supply of affordable housing has dwindled. The recession has worsened the problem: between July and December, Minneapolis Public Schools (MPS) tallied nearly 20% more homeless students than during the same period the year before. Perhaps out of necessity, the district has become a national model for how to identify what it refers to as "highly mobile students" and ensure that their education is not interrupted. Case in point: Since September, when second-grader Ty'jhanae Walker moved with her family to a shelter across town from her school, the 7-year-old has ridden...
...face of economic contraction, we're rethinking things we used to take for granted. The opening piece, by Barbara Kiviat, acknowledges that in these difficult times, plain old jobs, not stocks or real estate, are our most valuable assets. Sean Gregory writes about a new minimalist model for the shopping experience, and Bryan Walsh looks at how the suburbs are reimagining themselves now that the economy can no longer support the massive shopping centers that used to define them. Krista Mahr in Hong Kong reports on how the crunch is fueling a new kind of international trade: countries with money...
...never have generated by itself. Eager to raise living standards in their own countries, Asian policymakers and business people latched on to that formula. The economies of South Korea, Taiwan, Hong Kong and Singapore did so with such success that they became known as the Asian tigers. Their growth model produced miracles--and, as Park said in a 1965 speech, exports were "the economic lifeline...
...some ways, Asia's growth model came to resemble a vast Ponzi scheme--one precariously perched on expectations that debt-soaked Americans would buy more TVs, computers and cars forever. Those expectations have been dashed, leaving the tigers with excess manufacturing capacity and a burgeoning army of unemployed workers. At Taiwan's Hsinchu Science and Industrial Park, home to many of the island's flagship tech firms, most workers are taking unpaid leave at least one day a week. Ryan Wu, chief operating officer of the job-search website 1111 Job Bank, says conditions at Hsinchu have never been...