Word: slowdowns
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Dates: during 2000-2009
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That money is reserved for big bets in growth industries--the bigger, the better. "If you can't bring a $100 million business plan to the table, they're not interested," says Alec Saunders, a Windows programmer who recently quit after nine years at the company. Stung by a slowdown in corporate IT spending, Microsoft made a major play for our living rooms and pockets, with mixed results. It sank billions into the video-game business (Xbox and its soon-to-be-announced successor, Xbox 2), the cell-phone business (partnering with longtime ally Intel) and something called smart personal...
...previous boom-and-bust cycles in its transition from communism to capitalism. In 1994, GDP growth exceeded 11% and inflation soared to 24%. To restore economic stability, the then Vice Premier and central bank governor Zhu Rongji choked off bank loans to cool runaway borrowing and spending. The subsequent slowdown threw millions of mainlanders out of work, but because China was relatively isolated from the global economy, few other countries shared the pain. Today, a sharp contraction in China would have much wider impact. The mainland is one of the world's largest manufacturing bases and is now its fourth...
...jobs outsourced to India last year. Vivek Paul, president of Wipro, one of India's leading outsourcing companies (it handles voice and data processing for Delta Airlines, for instance), says its service business grew 50% in the last quarter of 2003. "Companies that are emerging from the slowdown are beginning to invest some of that in India," he says. John McCarthy, author of the Forrester Research landmark study that predicted 3.3 million jobs would move overseas by 2015 (there are about 130 million jobs in the U.S. today), says last year's gains in outsourcing didn't come from...
...said, "is because we went through a recession, we were attacked, and we're fighting a war." But the Congressional Budget Office suggests otherwise, explaining that 36% of the deficit comes from the Bush tax cuts, 31% from spending on defense and security, and the remainder from the economic slowdown. The deficit, which will climb from $375 billion this year to $521 billion next year, does not include the estimated $50 billion cost of the war, which the Administration will request in a supplemental-spending bill...
...didn't know there was a slowdown in the economy. Business has been great for the last 27 months. I've had to increase my work force four times in the last year. What's the big fuss about? Tim Lapuyaude Ponchatoula...