Word: problem
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...models. He's not there to beat the heat. He drives a small Volkswagen now and wants to upgrade. A middle manager at a state-owned steel company, Zhang has no worries about his job or China's economy. "Things are still pretty good," he says. "I have no problem now affording one of these," nodding toward the array of gleaming new Buicks nearby. (Read "China's Booming Car Market Shifts into Reverse...
...optimists, the June data showed just how determined the Chinese government is to implement effective monetary countermeasures to fight the downturn. As Peking University finance professor Michael Pettis says, China is "throwing everything including the kitchen sink'' at the problem. There is no question that as a result of the flood of financing, a lot of Chinese have jobs they otherwise wouldn't. But, as Grant's Interest Rate Observer, an influential Wall Street newsletter, points out in its latest issue, "Massive injections of money and credit ... are always bullish before they are bearish." The newsletter draws worrying parallels between...
Beyond the mail delays and the botched orders, the lack of human interaction is the big problem with Netflix and its cyber-ilk. Thanks to the Internet, we can now do nearly everything - working, shopping, moviegoing, social networking, having sex - on one machine at home. We're becoming a society of shut-ins. We deprive ourselves of exercise, even if it's just a stroll around the mall, until we're the shape of those blobby people in WALL?E. And we deny ourselves the random epiphanies of human contact...
...Truckers texting behind the wheel were 23 times as likely to get into an accident or near miss as those focused on the road, according to the Virginia Tech Transportation Institute, which collected data from 6 million miles of driving. The group warned of a "crash epidemic" if the problem is not curbed. Dialing a phone was also hazardous, though talking did not raise accident rates...
...Some CEOs who are critical of the compensation status quo but who don't want government telling them how to pay people point to taxes as a possible answer. "I wish income was more equitable," the head of a big financial institution told me recently. "I have no problem with paying 50% taxes or more. But government meddling with compensation practices is a bad idea." Yes, raising tax rates would bring negative consequences: more incentive for evasion, less incentive for risk-taking and entrepreneurship. Lowering the top rate had its negative consequences too, though. It's a matter of which...