Word: shakeout
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Dates: during 2000-2009
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...foreign players in a downturn. In a crowded market - with more than 40 Chinese brands - the slowdown may weed out the sector's weaker players. "There are too many manufacturers" in China, says John Bonnell, director of forecasting for Asia at J.D. Power in Bangkok. "We can expect a shakeout...
...That outlook looks less rosy, of course, since the global economic crash and collapse of the region's oil revenues. Although tourism and property developers are still planning massive new projects, there are signs of a shakeout in Dubai's boomtown housing values, with some analysts expecting up to a 20% decline in the next three years. The combined debt of Dubai's government and public-sector companies has escalated to the point where some analysts say the city-state Dubai might one day need a bailout from its super-rich sister emirate Abu Dhabi, which has more than...
...change in hedge funds may not be entirely bad news for investors, either. According to NYU economist Brown, an industry shakeout could get rid of many undercapitalized or poorly managed funds, leaving remaining funds to consolidate. And the culling could even be healthy for the industry, says MIT's Lo, who draws an analogy from biology. "We've just seen a big meteorite hit," he says. "It will kill a number of species. But in the wake of that death, whole new species will arrive." As students of evolution know, the dinosaurs died to make way for something smarter...
There probably won't be an earthquake in Southern California today, but 5 million people will cower under furniture anyway. The Great ShakeOut, the biggest disaster drill in U.S. history, will show us just how prepared the Golden State will be when the Big One finally hits...
...Richard Allen, an associate professor of earth and planetary science at the University of California, Berkeley. Part of the reason can be attributed to the U.S.'s superior earthquake preparation - California has strict building codes that are designed to prevent structures from collapse, and events like the Nov. 13 ShakeOut teach individuals what to do in an emergency. For the most part, though, the low death tolls can be attributed to luck. "We haven't had a big earthquake beneath one of our metropolitan centers yet," Allen says. "For example, in '89, the quake started beneath the mountains. There...