Word: pinches
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...affordable housing. The worst may not be over yet: City officials are worried that the current round of budget-slashing will pale in comparison to future cuts undermining basic services like fire and police departments. Cambridge isn’t the only place in Massachusetts to feel the pinch of a statewide budget shortfall. Recently, in response to spiraling state revenues, Governor Deval L. Patrick ’78 was forced to announce more than $1 billion in budget cuts, affecting towns and cities across the Commonwealth. As Patrick recently said, “This is not about cutting...
...Meyer's restaurants are not alone. A survey released Friday morning shows businesses around the New York City area are already feeling the pinch of Wall Street's recent downturn. The survey, conducted by the local chapter of the National Association of Purchasing Management, found that business managers believe the Big Apple's economic conditions have deteriorated 21% from just three months ago, to an index level of 35.6. Any reading below 50 means the city's economy is contracting. The index stood at 59 just a year ago. "Managers say business conditions are bad and will stay that...
...Sagra felt the pinch months ago. "Construction started to really slow in February or March, with the subprime crisis in the U.S.," says Duque, "and that's when the brick warehouses started to fill up." Many brickworks in the area closed for several months over the summer. Most in La Sagra have suspended workers temporarily in a program negotiated with the unions that allows employees to receive unemployment benefits for three months, and then guarantees their return to work. With recession looming, Duque worries about what lies ahead. "That's when we're going to start seeing factories closing...
HedgeFund.net estimates that the funds lost $93 billion in the first three months of the year alone. But Gradante says things really unraveled in the past month or so, as investment banks, feeling a capital pinch, started to require that hedge funds pay back their loans. The funds typically borrow money to buy stocks or bet against them in order to increase their returns. Hedge funds were then forced to sell their positions, often at a loss, in order to pay back what was owed. What's more, many investors began getting nervous and pulling their money...
...Sagra, they first felt the pinch months ago. "Construction started to really slow in February or March, with the subprime crisis in the U.S.," says Duque, "and that's when the brick warehouses started to fill up." Many brick works in the area closed over summer, but things have hardly improved since then. Duque says most of the brick companies in La Sagra have suspended workers temporarily in a program that allows them to receive unemployment benefits for three months and then return to a guaranteed job. With the financial meltdown adding to Spain's troubles and the country...