Word: slowests
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...mushers spend months prepping their dogs, who are subject to drug screenings and tracked using collar tags and microchips implanted under the skin. And while the competition is intense, participation counts: organizers present the last-place musher with the "Red Lantern" award as a tribute to his persistence. (The slowest Red Lantern winner, John Schultz, took more than 32 days to reach the finish line.) Each finisher also receives more than $1,000 to defray travel expenses. (See pictures of the science of snowflakes...
...Glendale, Calif. In a typical month, Vindeni sells about 70 bikes at her shop. In January, however, she sold 42. Vindeni recently cut her staff by 10 people, to 65. She's reduced her inventory and lowered prices on some items. The Sportster is usually one of the slowest-selling models, "the ones we're trying to get rid of at the end of the year," she says. But soon after arriving at her showroom, the Sportster Iron 883 sold out. "They've been saying for a long time that it's important to capture the younger generation...
...this current downturn as well, Walker's dim views, which at first seemed on the fringe, now appear less farfetched. The International Monetary Fund (IMF) in late January revised its forecasts for 2009 sharply downward, predicting the slowest global growth rate since World War II, at only 0.5%. IMF chief economist Olivier Blanchard said he expects "the global economy to come to a virtual halt." Even China would record only 6.75% GDP growth in 2009, according...
...third-largest economy surged 9% in 2008 from the year earlier. But first looks can be deceiving. The statistics also showed just how quickly and severely the global economy decelerated in the latter part of the year. China's growth in the fourth quarter, at 6.8%, was the slowest the country has experienced in seven years. Compare that figure to the first half of 2008, when growth was more than 10%, and in 2007, when China posted an eye-popping 13% rate. As Stephen Roach, chairman of Morgan Stanley Asia, put it: "China hit a wall late last year...
...however, this Chinese territory's economy - highly dependent on financial services and trade - is proving vulnerable to the global downturn. As Europe and the U.S. slump, so have merchandise exports from Hong Kong, which in the third quarter grew at their slowest pace in more than six years. Hit by higher costs, slowing orders and tightening credit, thousands of factories owned by Hong Kong firms are closing up in southern China's industrial heartland. This week, HSBC, the city's largest bank, said it would layoff about 450 people in Hong Kong due to deteriorating business conditions and a poor...