Word: quarters
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Dates: during 2000-2009
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...turf. Live Nation dumped its ticketing contract with Ticketmaster in January after signing a 10-year contract to license ticketing software from Europe's CTS Eventim to run its own ticketing business. The move took a toll on Ticketmaster, which saw its profits dive 78% in the first quarter, partly due to the lost Live Nation business...
...good news is that there is a slowing in the rate of deterioration in the global economy. The tougher news is that this is hardly surprising. In the aftermath of unprecedented annualized plunges in real global GDP on the order of 6% to 7% in the fourth quarter of 2008 and the first quarter of 2009, the pace of deterioration almost had to moderate...
...where hopes of an Asia-led rebound are most tenuous. After a dozen years of excess, the overextended American consumer is tapped out. The "green shoots" crowd - those believing global recovery is nigh - drew special encouragement from a 2.2% rebound in real U.S. consumer expenditure in the first quarter of 2009. That encouragement is about to be dashed. Outright contractions in retail sales in March and April point to a renewed decline of at least 1% in real consumption in the current quarter...
...American consumer is unlikely to spring back overnight. In fact, with asset-dependent U.S. households remaining income-short, overly indebted and savings-deficient, subdued consumption growth is likely for years. This is because the U.S. consumption share of real GDP, which hit a record 72.4% in the first quarter of 2009, needs, at a minimum, to return to its pre-bubble norm of 67%. That spells a sharp downshift in real consumption growth from the nearly 4% average pace of 1995 to 2007 to around 1.5% over the next three to five years. There will be years when the consumer...
...doubt that President Obama has changed American politics, consider that we are about to have the first Supreme Court confirmation hearing in almost a quarter-century that does not revolve, in one way or another, around Roe v. Wade. The appeals-court judge Sonia Sotomayor has ruled on just three cases that dealt, indirectly, with abortion. She has written a lot about racial preferences, though. That is one reason the country is set to have a knock-down, drag-out fight over affirmative action instead...