Word: phaseouts
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PONTIAC Acquired 1909 Phaseout...
...Enter retail. It's certainly not rosy in retail-land: The Sharper Image, Lillian Vernon Crop and Bombay Company have all declared bankruptcy. Ann Taylor announced the phaseout of 117 of its 921 stores over the next three years and Liz Claiborne is shutting down 54 Sigrid Olson shops this year. Talbots streamlined 22 more stores in addition to the 78 it already had announced while also ending Talbots Mens and Talbots Kids. The International Council of Shopping Centers forecasts that store closings could reach 5,770 this year - the highest since...
...phaseout of chemicals called chloroflurocarbons will help reduce the hole in the ozone layer, right, but the continued burning of fossil fuels will lead to hotter times in the future...
...potential carcinogen. Half of Santa Monica's water supply is undrinkable--MTBE makes water taste like turpentine--and the city (pop. 85,000) faces a $300 million cleanup that could take as long as 30 years. As lawsuits against 18 oil companies drag on, California has ordered a phaseout of the chemical, and a dozen other states have followed suit...
Methanex wants U.S. taxpayers to compensate it for $970 million in profits it would lose as a result of a California MTBE phaseout. CEO Pierre Choquette asserts, "We believe the ban of MTBE was politically motivated" to favor the U.S.-made gasoline additive ethanol "and has no scientific merit." The company's director of investor relations, Brad Boyd, says, "California should make sure its underground gas tanks don't leak. That's what would protect the public...