Word: slashe
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Attacking its problems, Toys "R" Us recently declared that it was closing 59 stores, laying off as many as 3,000 workers and taking a $495 million charge against earnings to slash inventory, a move that jolted its two biggest suppliers, Hasbro and Mattel, into announcing that they expect lower earnings. Toys "R" Us has undertaken a redesign of its stores and a new strategy of broadening its merchandise to include children's clothing and electronics. But it will also have to pull off a more difficult transformation. Says Sean McGowan, an industry analyst with Gerard Klauer Mattison...
...Slash Records...
...Dylan won't be the only hand laid off from Maggie's farm -- unless the government steps in, which is why Thursday's budget deal included $6 billion in farm aid. For the GOP, agreeing to the bailout meant suspending their quest to slash federal farm subsidies. "Republicans would have been hard-pressed to cut back on government spending to farmers in a year when the agricultural community has been badly hit by the Asian crisis and falling commodity prices," says TIME's senior business reporter Bernard Baumohl. The bad news, however, is that with U.S. agriculture heavily reliant...
Back then, the Pentagon was confronting some hard choices. After 14 years of shrinking defense outlays, it faced a $270 billion annual budget that would just keep pace with inflation. The military would have to kill some costly cold war-era weapons programs, slash its 1.4 million-man fighting force or undercut the readiness of U.S. troops to fight. But the tacit alliance last week of President, Pentagon and lawmakers averts any major, post-cold war restructuring of the U.S. military. And postponing that day of reckoning will be expensive for taxpayers...
...that speechmaking on the need for economic reform -- most of it preached to the economists who don't need it, rather than the politicians who do -- the only real action taken by President Clinton during his two-day summit in Moscow was this: He and Yeltsin agreed to slash their nuclear stockpiles by 50 tons of plutonium each, and to share sensitive information on each other's missile launches. Arms control and early warning systems may not seem so relevant at a time like this, and 50 tons represents barely a quarter of Russia's plutonium stockpile. Even...