Word: northeasterly
(lookup in dictionary)
(lookup stats)
Dates: during 1990-1999
Sort By: most recent first
(reverse)
...since the Great Depression has the outlook for so many banks seemed so grim. The epicenter of distress is the downtrodden Northeast, where lenders in New York and New England are writing off bad loans at a furious pace. Many of the worst headaches are in New York City, which is home to seven of the 10 largest U.S. banks. Experts predict that such giants as Citicorp, the biggest U.S. banking company, Chase Manhattan (No. 3) or Chemical (No. 8) may have to merge with other large firms to survive. "There is a high chance for a major consolidation over...
Banking's woes are spreading beyond the Northeast. In California, where banks are generally suffering less than in other regions, Security Pacific Corp. last month projected a loss of at least $320 million for the fourth quarter. More than half the bank's problems stemmed from loans outside California, particularly to builders in Arizona. Experts are worried that a further downturn in California's slumping real estate market could cause a flood of red ink at the state's other big banks...
...such senior, Eunice S. Wang `91, said sheplans to leave the troubled northeast for morepromising opportunities elsewhere, even if thatsearch takes her overseas...
...people's behavior is unnaturally -- even unnecessarily -- gloomy, it is easy to understand why. They feel less rich, less safe and less certain about what the future holds than they did in Christmases Past. In the real estate fantasylands of California and the Northeast, homeowners who think they live in a $300,000 house suddenly "lose" $80,000 when they try to sell. In Chicago out-of-work architects are invited to lunch at a soup kitchen for a bowl of chili and some free advice from colleagues who have survived previous recessions. Washington hairdressers report that business is down...
Hardly anyone bothers to deny it. After a record eight years of peacetime economic expansion, the most widely predicted recession in recent U.S. history is finally at hand. No longer confined to the beaten-down Northeast, the slump has brought hard times for many Americans, ranging from Boston bankers to Atlanta autoworkers to California aerospace engineers. The big questions now: How far will the economy slide into misery, and how long will the slump last...