Word: productivity
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SEPT. 22 Premier Wen Jiabao apologizes; China's food-and-product-quality head resigns. Four babies have died; 53,000 are sick...
When you look at things this way, it becomes clearer what the frenzy in New York City and Washington is all about. There are major quality issues with our nation's flagship product. The authorities have acknowledged the problem--"This is a humbling, humbling time for the United States of America" is how Treasury Secretary Hank Paulson put it in one TV interview. So now Paulson & Co. are recalling defective financial products en masse, slapping GUARANTEED BY THE U.S. GOVERNMENT labels on some of them and replacing others outright with U.S. treasuries...
...course, less money borrowed means less money to spend. "Can you imagine McCain or Obama going around saying he wants to reduce your standard of living?" asks Murphy. Probably not. But maybe they could just sell it as, say, diversifying our product offering...
...capital inflows from overseas shrank. Late in the decade, they returned, with a twist: foreign investors and companies were buying into corporate America to get in on an economic boom. That boom ended in 2001. But the Bush Administration soon began running deficits, and foreigners discovered an American financial product to which they'd never paid much heed before: mortgage securities...
...When Hyman Golden co-founded the Snapple Beverage Corp. in 1972, the company took its name from one of its first products--a carbonated apple soda drink. After building its product line and name recognition in New York through pervasive "Snapple Lady" television ads and the introduction of flavored teas, the company became nationally known, earning $700 million in annual sales before being purchased by Quaker Oats Co. in 1994. Raised in Queens, N.Y., Golden earned his keep in pre-Snapple days by working as a window washer with his Romanian father and later as a business broker...