Word: slashings
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...vast debt load that companies assumed in the 1980s, American firms can no longer afford to hire back workers anywhere near as briskly as they have done after past recessions. Quite the contrary: as banks, retailers, computer makers, defense contractors and other firms from Boston to Burbank slash their payrolls in the face of falling profits, experts say nearly half the 1.6 million jobs the economy has lost in just the past 13 months may never be restored...
...free-lance writer told his family in Fairfax, Va., that someone might try to kill him and make it look like an accident. On Aug. 10 he was found dead in a hotel room in Martinsburg, W. Va., where he had gone to meet an unnamed source. There were slash marks around his wrists and a note near his body. It read in part, "I'm sorry, especially to my son." The official verdict: suicide...
...code offers greater incentives for breeding horses than for raising children. We slash school budgets and deny working parents the right to spend even a few weeks with their newborns. We spend 23% of the federal budget on the elderly but less than 5% on children. We refer to pregnancy as a "temporary disability," putting it on a par with breaking your...
...multibillion-dollar empire. Then came Farley's folly: the 1989 leveraged buyout of sheet-and-towel giant West Point-Pepperell, for $1.6 billion. Burdened by debt, he endured the junk-bond collapse, the recession and the gulf war. But last week Farley accepted a "prepackaged" bankruptcy plan that will slash his share of West Point-Pepperell from 95% to 5%, the biggest blow yet to Farley's fraying kingdom...
...incapable of bouncing back anytime soon. Hanging ominously over every sector -- individuals, business and government -- is a crippling pile of debt that amounts to $10 trillion, double the size of the entire U.S. economy. Consumers, far and away the most powerful stimuli in the economy, seem determined to slash spending and pay off loans. The government said last week that consumer installment debt fell 3% in June, the sixth drop in seven months...