Word: new
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Dates: during 2000-2009
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...Suck up companies with borrowed money, make them more efficient and then resell, turning a profit in the process. These days, nearly 1 in 10 nongovernmental employees works for a private equity-owned company, and that, says longtime industry reporter Josh Kosman, is a big problem. In his new book, The Buyout of America: How Private Equity Will Cause the Next Great Credit Crisis, Kosman argues that private-equity firms not only pillage the companies they buy, but also put the broader economy at risk by making those companies take on copious amounts of debt. TIME's Barbara Kiviat spoke...
...combat an unemployment rate at 10.2% and rising, U.S. leaders are starting to take further action. President Barack Obama is holding a jobs summit Dec. 3, followed by a White House to Main Street Tour to "share ideas for continued recovery." Congressional Democrats, meanwhile, hope to tackle a new jobs bill by the end of the year. (See the top 10 recession surprises...
...public land if they pledged to cultivate it for five years - tapped into the frontier spirit, providing work opportunities for even the most down-and-out Americans. As more and more members of the workforce began laboring in factories in the 19th century, however, society grew more polarized and new technology let businesses squeeze more productivity out of fewer people. By the 1920s, periodic unemployment was common; by 1933, the depths of the Great Depression, it had hit 25%. (See 10 perfect jobs for the recession - and after...
...Administration begins lobbying its international partners for punitive new measures against Iran, Makhmalbaf and other opposition figures have urged the U.S. to focus primarily on the Revolutionary Guards. The élite unit is a growing political and economic behemoth, and its leadership is critical in propping up the troubled regime. They are not supporting other measures under consideration, like curbs on gasoline imports Iran relies on for domestic consumption, because these would mainly hurt the Iranian public, opposition figures have told U.S. officials...
...Mumbai attackers are believed to have come by sea from Karachi, and over the past year, the Indian government has added new vessels to tighten up security along its long maritime border with Pakistan. But Behera estimates that getting through a checkpoint costs only about Rs. 5,000 ($111). Despite the necessary investment in new boats and training, corruption is still a vulnerability, says Pushpita Das, who is researching coastal security at the Institute for Defence Studies and Analyses. "The liability still remains...