Word: plummet
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Dates: during 2000-2009
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...closing a plant or initiating mass layoffs. WARN also requires companies to fully compensate workers with all earned wages and vacation time. In a statement issued late Monday, Republic officials attributed the company's difficulties to the decline in the home construction market, which saw the company's sales plummet by 80%. Then it shifted blame to its creditor, Bank of America, which Republic said compounded the situation with its "unwillingness" to "continue funding the operations," according to the statement. Republic also said that it told Bank of America about possible WARN compliance issues in October 2008. For its part...
...While Dongxiaokou's scrap yards have epitomized China's industrial boom over the past two decades, the global economic slowdown has left the scrappers struggling as prices for raw materials plummet. A group of men from Henan sit at a table playing a card game called "Fight the Landlord." They're the owners of a huge mound of plastic bottles they could process, but if they sold them now, they would lose money - scrap prices have fallen to levels not seen in years. "You want to know why our prices are dropping?" says Zhang Zhongming, 43, who moved...
...down with TIME to discuss the auto industry's current crisis, how to make electric cars a reality, and what we'll drive 10 years from now. Though better off than its American counterparts, Nissan recently reported a 39% drop in second-quarter profit, has seen its stock price plummet, and plans to halt production of nearly 300,000 vehicles through March of next year...
...reason for Monday's market plummet is little changed from that behind the last few weeks of red ink: Growing certainty that the world is headed into a deep, and probably long, recession. The pessimism is fuelled by statistics showing consumer spending and industrial production falling off in many major economies, and especially...
...Helping Wall Street and stopping the foreclosures are only part of the solution. The U.S. economy is headed for a serious recession and needs a big stimulus. We need increased unemployment insurance; if states and localities are not helped, they will have to reduce expenditures as their tax revenues plummet, and their reduced spending will lead to a contraction of the economy. But to kick-start the economy, Washington must make investments in the future. Hurricane Katrina and the collapse of the bridge in Minneapolis were grim reminders of how decrepit our infrastructure has become. Investments in infrastructure and technology...