Word: phases
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...analysis by Goldman Sachs sounds a similarly somber tone. It suggests that the downturn is still in its incipient phase, and that job losses could surpass 2 million in 2009, with unemployment climbing to 8%. "As the economy slides into a deeper recession, it appears we are closer to the beginning of the labor market downturn than the end," wrote the study's co-author, economist Ed McKelvey. "We anticipate a sharper decline in employment in coming months." Reich also quotes 8% as a likely unemployment figure, though he notes that figure excludes job seekers who have given up searching...
...imperial phase of America's involvement in Iraq is ending. Probably by the end of the year, the U.S. will return the palace to the Iraqi government, and embassy staff will move into a new complex just down the river. The U.S. will still have a heavy footprint in Iraq--the embassy is the largest in the world and cost about $750 million to build. But the departure from the Republican Palace is part of a larger transfer of authority. So far, the U.S.-led coalition has turned over security responsibilities to Iraqi forces in 13 out of 18 provinces...
...some degree, of course, Johnson is enjoying the honeymoon phase of his NBA career. How many times have we seen players break public bread with a new coach after his hiring only to toss it in his face a few months later? And at the end of the day, fans don't care if Mother Teresa is in charge of the refs: if Joey Crawford misses that goal-tending call at the end of a Lakers game or sends Kobe to the showers early, all of Los Angeles will be calling for his head. The refs need more than...
...what kind of Vice President would Biden be? His relationship with Obama is still in its formative phase, but history may hold some clues. It has been 48 years since a sitting Senator has been elected President, but in that time, five went directly from the Senate to the vice presidency. Some of them - Walter Mondale comes to mind - served as all-purpose advisers and troubleshooters for the President. Others chose specific portfolios - as Al Gore did in taking charge of areas like the environment, technology and reorganizing the operation of the Executive Branch...
...interest, and 48 third-year students signed full commitments to five years of public service work after graduation. These third-year students will receive $5,000 off their current tuition. Kagan said that the Law School was committed to funding the program at least through its five-year experimental phase, regardless of the number of students who sign up. “We expect it to be popular among alumni, and we expect them to show their support,” said Kagan, who oversaw a five-year capital campaign that ended in June and raised over $476 million...