Word: quarterly
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...historian for the Shoe Service Institute of America, the cobbler trade group, McFarland tracks local media stories on shoe-repair performance and talks to hundreds of shop owners throughout the country. He says cobblers are reporting increases in the range of 25% to 40% during the fourth quarter of 2008 and early '09. (See a gallery of Olympic shoe designs...
...suspect: its current leaders are looking increasingly unprepared to deal with what may be the country's greatest challenge since the end of World War II. Japan's economy, the world's second largest, is contracting at the fastest rate among all developed nations. GDP growth in the last quarter shrank at an alarming annualized rate of 12.7%, Japan's worst showing since the 1974 oil shock. But instead of taking vigorous steps to counteract a worsening recession, Prime Minister Taro Aso is lurching from one embarrassing gaffe to the next, and seems in imminent danger of losing control...
...latest economic indicators are dire: exports were down nearly 14% in the fourth quarter, a record three-month drop; with U.S. consumers shutting their wallets, the big guns of corporate Japan - among them Toyota and Sony - are forecasting historic losses and firing thousands of workers; Japan's unemployment rate has spiked to 4.4%, a level not seen in more than five decades. "We have a once-in-a-hundred-year crisis and the policy response is not even average," says Jesper Koll, president and CEO of Tantallon Research Japan. "The people running the show are not politicians, not independent...
...confirms that Shangri-La's occupancy rates were down in the fourth quarter of 2008 (the company hasn't released specific figures). Shares of Shangri-La's Hong Kong - listed holding company have plunged by two-thirds from their 52-week high. Still, Rao says he currently has no intention of throttling back. Armed with cash from a $668 million rights offering in 2007 and $700 million in available credit, Rao feels he has the financial muscle to absorb the shock of the slowdown. He remains bullish on the prospects for Asia, and particularly for China, where Shangri-La already...
...www.economiccrisis.com still available? VeriSign, which manages Internet domain-name registrations, reports that 17% fewer com and other standard Web addresses were registered in the fourth quarter of 2008 than in the same period in 2007, a slump analysts say may indicate a slowdown in new online businesses and advertising. Total registrations worldwide continue to grow, driven by demand in countries like China (.cn) and Germany...