Word: slowdown
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...necessary legislation in place by the time Congress adjourns before the election. As recently as last winter, loan guarantees for carmakers had seemed like a piece of the Motor City's past (President Carter signed off on the Chrysler loan guarantees in 1980). But a combination of the economic slowdown and Presidential campaign politics, as well as the precedent of the federal bailout of Wall Street's banks, have helped jump-start Detroit's campaign for loan guarantees. "We think we have some real momentum," says one General Motor official, who has been close to the quiet campaign for federal...
...clear whether there will be enough chicken to go around. The red-hot growth rate of Macau's gambling market is set to ease in the second half of 2008 due to local government efforts to cool Macau's overheating economy. The slowdown could come as several major new projects are launching. Early next year, Melco Crown will open the City of Dreams, a $2.3 billion megaresort that boasts several hotels (including a Grand Hyatt and a Hard Rock Hotel), a 2,000-seat theater, a shopping mall and a 550-table casino...
...province is in the process of overhauling its unemployment-compensation system to better protect workers against sudden layoffs. Officially, China's unemployment rate is a relatively healthy 4.2%, but government statistics are dodgy, in part because significant numbers of China's millions of migrant workers go uncounted. The slowdown is a cause for national, not just provincial, concern. In early July, the country's state council huddled with top economic policymakers in an emergency session to discuss options for rekindling growth. Officials in Beijing "are very concerned, much more so than they were even just a month ago," says...
...league's annual wage bill at about $3 billion and its total revenues a little over $3.8 billion, with only eight of the Premiership's 20 clubs reporting an operating profit. Revenues have increased, thanks to a new TV deal, but so too have wages. If the global economic slowdown eats into ticket and merchandising sales and the credit crunch suddenly trims the money available even to top clubs, the transfer market may see something of a correction - a development that could make middling leagues more competitive. And heaven help clubs boosted by vanity investment if their benefactors were...
...jury member at the 2008 Venice International Film Festival, which kicks off later this month, and the acclaimed director of such films as Exiled (2006) and the Election gangland duology (2005, 2006). "Are you giving up your imagination and creativity in your filmmaking?" he asks. Tightened restrictions and a slowdown in mainland approvals in this Beijing Olympics year have added to filmmakers' worries. "Nobody knows what's happening," says director Lawrence Lau, who is known for gritty youth dramas like May's Besieged City. "In that sense we don't have any idea of what's allowed and how much...