Word: slashed
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...decade of economic paralysis. Consumers aren't buying much. Bankers aren't lending much. The government is deep in hock. The only hope of escaping this mess is represented by Japan's newest Prime Minister, Junichiro Koizumi, who is determined to administer economic shock therapy. Koizumi promised he would slash government spending, compel major banks to speed up disposal of bad loans--estimated at nearly $1 trillion--allow unprofitable companies to go bankrupt and restructure the economy to make it more market oriented...
Under an ambitious new plan pioneered by HLS Dean and Royall Professor of Law Robert C. Clark, the school will slash first year class sizes by half, institute a system loosely based on Harvard college’s residential houses to try to build community spirit, expand the international dimension of the school by creating new research centers, and dramatically increase financial...
...Bush road show on taxes. And, on a technical note, Japan needs to let its currency slide. A weaker yen--say, 135 to the dollar--would strengthen corporate profits. The danger is that a sliding yen could set off a round of devaluations, as neighboring economies rush to slash their exchange rates. Here is where the U.S. can, finally, help Japan. By nodding support to a slow devaluation and not screaming about the impact on U.S. trade, Washington can help persuade other countries in the region to keep their currencies strong. It may be a tough sell in a recession...
With its eye on cost, the Food and Drug Administration last week took testimony on whether to require makers of the blockbuster allergy drugs Claritin, Allegra and Zyrtec to sell the products over the counter, a move that would slash their prices. An FDA advisory panel ruled that the drugs were safe enough to be sold without prescription. While the FDA is not required to follow the panel's advice, it has usually done so. A switch to over-the-counter sales would benefit uninsured buyers--as well as insurers, such as the California managed-care giant WellPoint Health Networks...
...Cheney plan looks as if it will slash funds on the conservation side by as much as half while vastly increasing amounts for drilling where the caribou roam and building new refineries and power plants. Only a few decorative items, like turning animal waste into energy, remain. To rationalize building 1,300 new power plants, Cheney cites Energy Department studies showing demand outstripping supply. Yet studies out of the same department suggest that basic conservation measures could cut growth in demand close to half...