Word: modeste
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...saved for future acquisitions some $1.6 billion earned by selling off two global automotive businesses this year. "A fair amount of that," says chairman Travis Engen, "will go to Asia. Much of the world's electronics is being produced there, and our footprint there in electrical connectors is rather modest. So that is an area where we would specifically like to make great investments in acquisitions." Asia supplies about 5% of ITT's global revenues, but Engen foresees that rising to a third in about 15 years--or in less time, if the company can make profitable acquisitions fast...
...dramatic. It might not even be recognizable for a long while; turning points often stand out clearly only in retrospect. But with all those caveats, it looks as if the global financial crisis is passing a rather modest turning point. At least it has stopped getting worse, and it may be contained in Asia rather than spread to other regions of the globe. As one happy result, odds favor the U.S. economy's getting through 1999 with nothing worse than a slowdown in growth--not the recession very recently feared...
...slowdown that does not turn into a recession, Bergsten warns, is still likely to lead to "a very significant increase in U.S. trade protection." Even a modest slowing of output and rise in unemployment, he fears, will be widely blamed on cheap imports. The Clinton Administration may give in to protectionism to please the AFL-CIO, which it is " beholden to" for the Democratic successes in the November elections. Hormats voiced fears that protection is all too likely to win support from the Republican right, now a stronghold of economic nationalism, as well as the Democratic left, creating a strange...
Throughout, O'Donnell paints a subtly poignant picture of a young man struggling with a dual identity: as the child of a modest Irish-Catholic background and as a well-connected graduate of prestigious "Hale University." Ask yourself how many contemporary comic novels have dealt with the issue of class, and you will come up with a short list. Moreover, ask yourself how many manage to skewer Swedish cinema, performance art, silly doctoral theses and the "Poverty Barn" along the way, and you'll begin to see why this one is such a treat...
...first her battles were simply about preserving the forest, often from the Forest Service itself. It took 10 years of campaigning by Pilchuk, for instance, to get the big agency to back off plans to replace a modest gravel road in an old-growth forest with a broad, paved highway. Although there is no "Endangered Habitat Act," Phillips and other environmentalists were able, sometimes, to wrap the Endangered Species Act around old-growth forests. Two endangered birds, the spotted owl and the marbled murrelet, nest in the moss-grown upper limbs of the ancient trees. Phillips is awed...