Word: steels
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...Lejiang says it's already happening. He's chairman of Baosteel, one of China's giant steelmakers, and since August, he has had to cut prices twice as demand suddenly cooled off in what had been a booming industry. The era of rapid growth for Chinese steel "will soon be remembered as history," he says. The Chinese stock market has also been hit hard - it's down about 60% this year - but the nation's banking system has for the moment largely been sheltered from the international storm because it's only partly open to the global capital flows that...
...Cantabrigians without a home at 487. As the economy worsens, even more people have been taking to the streets. Robert C. Reddick is one of Harvard Square’s recent victims of homelessness. After years of factory work, including stints at the American Can Company and Bethlehem Steel, Reddick said he found himself out of work due to the recent sub-prime crises. “I had been living with my two sisters,” said Reddick. “Seven months ago, things just got too hard for them, and I had to leave...
...certainly true. The global economic slowdown on the tail of the financial-market blowout is already clear and present on the mainland. In what has been one of the world's prime economic engines for the past five years, growth is slowing fast. Look only at the price of steel - as useful an industrial proxy for China's economic boom as any. According to Mysteel, a Shanghai-based consulting firm, the price for products used primarily in construction have fallen to less than $590 per ton, down almost 20% in just four months, forcing some companies into...
...musician to play his instrument.) “We wanted to design something that would help him get back to his former playing level,” Derse said. “After going through a few prototypes, we created a glove braced with three pieces of steel that held his fingers in position, allowing him to move his fingers when he wanted but preventing the involuntary contractions.” Business school was an attractive option, Derse said, because he “wanted two years to really get a good grasp on the concepts needed...
...aspect of the building—from the multi-storied walls of glass to the shiny silver handrails—has a certain sleekness; it’s an Apple product-cum-building. The building’s unscuffed, unmarred, and polished appearance puts the vogue of earthy-colored steel to shame. It’s also a far cry from the weathered red brick to which the Harvard community is so accustomed.Craig Hartman, Design Partner at SOM, San Francisco, and chief designer for the project, says that he remained confident in his sophisticated style throughout the design process, even...