Word: pasts
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Dates: during 2000-2009
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...with demand. Overzealous production had left the company with millions of dollars' worth of unwanted stock by mid-2008. Some of the work was already under way: Crocs has shed 32% of jobs since 2007, shuttering factories, paring its distribution network and cutting its inventory in half over the past couple of years. That's helped nudge Crocs' stock close to $7, but for it "to move higher, [the company] ultimately needs to become profitable," says Mitch Kummetz, a senior research analyst at Wisconsin wealth-management firm Robert W. Baird. New cuts aim to bring a return to positive earnings...
...part, Crocs has been steadily moving into other styles and materials over the past two years, from high-heeled shoes with a velvet finish to a khaki houndstooth men's loafer, both made out of resin. The hope: that a parent outfitting their kids in clogs will pick up a few more. "It's about persuading people to put the shoe on. We need to continue to evolve [our shoes]. And sometimes that might mean looking nothing like a Croc," says Duerden...
...have even peeked at your account statements in the past year, it's painfully obvious that something is wrong with the way we save. The tax-deferred 401(k) plan, and others like it, such as the 403(b) and the IRA, have become our nation's go-to retirement piggy bank. Invented nearly 30 years ago as an executive perk - one more way to dodge Uncle Sam - the 401(k) was never meant to replace the employer-guaranteed pension fund, supplemented by Social Security, as the cornerstone of our nation's retirement system. But propelled by a combination...
...ugly truth, though, is that the 401(k) is a lousy idea, a financial flop, a rotten repository for our retirement reserves. In the past two years, that has become all too clear. From the end of 2007 to the end of March 2009, the average 401(k) balance fell 31%, according to Fidelity. The accounts have rebounded, along with the rest of the market, but that's little help for those who retired - or were forced to - during the recession. In a system in which one year's gains build on the next, the disaster of 2008 will dent...
...lose your 401(k) when you lose your job. And once you set the account up - a minor task at most companies - it's automatic, making it an easy, thought-free way to save. Indeed, Americans have more saved specifically for retirement than ever before. But the past year has shown that even with our added savings, we are at much greater risk today of our bank accounts running empty than when employer-guaranteed pensions were the norm. By Munnell's calculations, 44% of all Americans are in danger of going broke in their postwork years...