Word: quartered
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There's a sharp difference in the volume and steepness of this year's discounts from the ones offered last year. "It's like night and day," Wilson says. Online florist 1-800-FLOWERS.com, whose sales dropped for the first time in company history last quarter, is selling a dozen roses for $24.99. "That's the lowest price we've seen in 25 years," says company founder and CEO Jim McCann. (Read "Valentine's Deals That You'll Love...
...where "your 700 millionth subscriber couldn't care less about 3G," he notes that the country's market is so huge there is room for 3G services to prosper. BDA projections put the total number of mobile subscribers in China at 1 billion by 2013, of which nearly a quarter - 247 million - will be 3G users...
...reason to think that the monthly number will be any smaller between now and the end of April. The biggest concern will be whether the near-term future looks so grim to managements that they will begin another substantial round of cuts as they look at their likely second quarter results. This would indicate that the total job loss for 2009 could move above six million. To economists, that would look like the end of the world...
...chances that many firms will have to make a second set of cuts in the third and fourth quarter will be exacerbated by the fact no part of the stimulus package will put a penny into the market before mid-year. The legislation for putting $800 billion or so into the economy may not be signed into law until the end of this month. Most of that money will leach into the soil of the American enterprise system slowly. Almost no one is looking for a turn in GDP before early...
That lag means we've likely got a ways to go before unemployment peaks. GDP during the 1981-82 recession, arguably the worst since the Great Depression, started rebounding in the second quarter of 1982. Yet unemployment didn't peak until the very end of the year. When it did, 10.8% of the workforce didn't have a job. For the unemployment rate to get up that high today, we'd still have nearly 5 million more jobs to lose. But, of course, 10.8% is simply a number plucked from history. Records do get broken...