Word: product
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Harry Holzer, an economist at Georgetown University and the Urban Institute, also sees troubling news in the fact that the fourth quarter's measure of gross domestic product (GDP), or the value of all the goods and services the economy churns out, wasn't nearly as bad as economists had thought it would be: down an annualized 3.8%, compared with a predicted drop of 5.4%, according to a Reuters poll. Companies are still producing, Holzer explains, but since no one is buying, inventories are piling up. With a backlog of goods, firms will need fewer workers to keep making more...
...Anjan Roy, economic affairs advisor at the Federation of Indian Chambers of Commerce and Industry. Roy pointed to a spate of scandals in 2007 over the safety of Chinese-made toys. In August 2007, Mattel, the U.S.'s leading toy company, was forced to recall 9 million of its products made in Chinese factories due to high lead levels in paint and other safety issues. "If it is a very harmful product, India has a right to ban it," Roy says. That sentiment was echoed by Toys Association of India president Raj Kumar, who denied that his industry group lobbied...
...Crimson faces Yale (7-11, 2-2 Ivy) tonight and Brown (6-12, 0-4 Ivy) tomorrow night at Lavietes Pavilion. Last weekend, Harvard dropped a pair of close games to Penn and Princeton at home. The losses, part of a three-game losing streak, were largely a product of errant free-throw shooting and poor transition defense.“We feel like we can just dig and scrap and claw a little bit more...and make it more difficult for people to get interior shots,” Harvard coach Tommy Amaker said. “That?...
...biggest challenge President Barack Obama faces in trying to sell America on his nearly $900 billion stimulus package is that, as it stands, it's not his. Rather, it is the product of the all-powerful House and Senate committee leaders on Capitol Hill to whom Obama and his team turned over authorship even before the new Administration entered the White House...
...able to move nearly a trillion dollars into the national economy in a hurry. And Hill staffers claim that Obama needed the leaders of the various committees to tell him what the bill required to garner enough votes to pass. Either way, the fact that the bill is the product of free-spending congressional committees is likely to hurt Obama. It is defining his first major effort to fix the economy not as a new way of doing business in Washington but as a massive exercise in more of the same...