Word: slow
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...book, Ellis traces Goldman's successful management approach to the firm's slow recovery from near failure and mortal embarrassment after the 1929 stock-market crash. (An investment fund it launched was one of the era's biggest disasters.) Goldmanites had no choice but to stick together and look to the long run. The firm's now pilloried entwinement with Washington (some call it Government Sachs) began in those days too, after managing partner Sidney Weinberg made the rare-for-Wall Street move of backing Franklin Roosevelt in 1932. That led to a key role for Weinberg in the World...
California is a state in crisis. Negotiations to resolve its $26.3 billion budget deficit are weeks behind deadline, more than $470 million worth of IOUs are clogging government ledgers and its state bonds are trading at near junk status. It's been a long, slow tumble from the Golden State's glamorous peak in the 1960s--when Governor Pat Brown built an efficient network of freeways and thriving, affordable public universities--to today's insolvent government beset by an unwieldy constitution and decades of mistakes...
After many months of agonizingly slow sales, automakers and dealers are anxiously counting on the cash-for-clunkers program, getting under way officially on July 27, to help clear their lots...
...core brands that specifically mention cash for clunkers," said GM spokeswoman Susan Garontakos. GM is also mounting a direct-mail campaign designed to explain the program. Garontakos adds that these programs are in addition to specific financial incentives ranging up to $4,000 that GM offers on slow-selling models. "Our dealers are looking for an uptick in sales," she says...
...world's most populous nation about to get more crowded? Reports surfaced in international media last week that in an effort to slow the rapid graying of the workforce, couples in Shanghai - the country's most populous city - would be encouraged to have two kids if the parents are themselves only children. Shanghai officials have since denied any policy shift, saying this caveat is nothing new, but the contradictory reports are another manifestation of ongoing rumors that Beijing is rethinking the controversial one-child policy that has for the past three decades helped spur economic growth - but exacted a heavy...