Word: slump
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Dates: during 2000-2009
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...crisis is tangible for everyone, and Italy will suffer," says Matteo Marzotto, head of the National Tourism Board. "We're in the middle of a war." That may sound dramatic, but consider this: in 2008, Italy's tourism revenues fell 5%, the first drop in seven years. The slump has already translated into a loss of $5.2 billion and at least 150,000 jobs...
...than 60% of the population, the news has triggered widespread panic. Top bureaucrats have been huddled up in meetings to chart out contingency plans to minimize damage to an already-stagnant agriculture sector in an economy which has only just begun to show signs of recovery following the worldwide slump...
Most staff workers had forecasted the news for months, and the unprecedented fiscal slump had left no budget-cutting measure too improbable to consider. But the reality of losing 275 employees in one sweep has nonetheless aroused the bitterness of staff members who learned Tuesday morning of the downsizing to come...
Media tycoon Rupert Murdoch recently stated the obvious when he said the newspaper business model of providing content online for free was "malfunctioning." Poleaxed by a severe ad slump and hemorrhaging red ink, printed newspapers and magazines have been downsizing or closing in some countries, even as their digital editions attract growing numbers of readers. Murdoch - whose News Corp. media empire includes the Wall Street Journal, a rare newspaper with a profitable, subscription-based website - has vowed to boost the earning power of his digital properties by increasing the number of News Corp. sites that charge for content. Other publishers...
...Unlike the Gulf War-related slump of the early '90s, the causes of BA's troubles are less clear this time around, Clifton says. Is it internal factors, the global downturn, the problems when Heathrow's Terminal 5 opened last year? Because of that ambiguity, "staff and observers won't necessarily think, This is all to do with external forces, so we've all got to pull together here," Clifton says. Seems like you can ask for that second pillow, after...