Word: stock
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Dates: during 1990-1999
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Wake up, Goldilocks - the bears may be coming home early. The stock markets were reeling again Friday, still weak-kneed from what TIME senior economics reporter Bernard Baumohl calls "a one-two punch and an uppercut." A skyrocketing trade deficit (proving that consumers are still spending way too much) and a sliding dollar (against not only the yen but also the euro) have both rekindled fears that the Fed will hike rates at its board meeting October 5. The uppercut? Microsoft prez Steve Ballmer?s must-have-had-a-few-too-many comments to a roomful of tech reporters about...
...right; he wanted to fix American politics but chickened out, sacrificing his credibility for a protectionism that went out of style and for love of his own ego. The better half of Perot's posse spawned Jesse Ventura; the failed half degraded into the acid populism that is the stock-in-trade of Pat Buchanan. It plays well in iconoclastic New Hampshire, and with farmers and union men, but if a party aspires to one day leave the fringe in the cause of reform, it is a poison pill. Buchanan is no reformer; he is a radical by convenience...
That doesn't mean Karmazin will necessarily get Redstone's job down the line. "This was not a decision on succession," Redstone says, making it clear that with a majority of Viacom's voting stock and a personal stake in the company worth $9.3 billion, he remains firmly in charge. "I love what I'm doing. I really think I'm at the top of my game." If you're Karmazin eyeing the corner office, that should give you pause. And if you're a media company, it's probably time to stop going for that head fake...
...Scouting Report] So much for synergy. The ABC-Disney combo so far has been a bust. And while Michael Eisner hopes to remedy things by selling off magazines and sports teams, Mickey's stock and bottom line have yet to regain their smile...
...Godfather and a game-show host: after the family's needs are met, everything else is negotiable. Periodically, I've taken a page out of the Good Parent's Rule Book and given my daughter an allowance, usually accompanied by a little speech about money management, the go-go stock market and the magic of compounding interest...