Word: stockings
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Dates: during 1990-1999
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Both Sinai and Varvares are raging bulls compared with Edward Yardeni, chief economist of the investment firm Deutsche Bank Securities. Formerly one of the stock market's biggest boosters, Yardeni now thinks the Dow may give one last spasmodic twitch up to 10000 by September, then fall 30% in 1999. That, he says, would be in anticipation of a global recession starting...
...tend to stay in their jobs longer than younger workers, whose frequent churning creates heavy costs for employers. Reich and Fromstein both observe that employers have been inventive in finding "flexible" ways to reward workers without increasing fixed-wage costs. They are paying out relatively more in bonuses, commissions, stock options and other pay-for-performance schemes and relatively less in direct wages...
...blooming economy thusly: "I'll give you everything I've got while I'm here, but I understand you don't owe it to me to keep me for life, and if an outside opportunity comes up, I may take it." Whatever comes next in the economy or the stock market, job seekers have become entrepreneurs in their own right...
...ongoing trial in Italy of Patrizia Gucci (charged with murdering her ex-spouse Maurizio Gucci, grandson of the company's founder) to worries about the fallout from the Asian financial crisis. Last September, when De Sole announced that profits growth for 1997 would be lower than expected, Gucci stock plummeted almost 20% in one day. Sure enough, the company announced last week that this year's first-quarter net profit had dropped 10% from last year, from $48 million to $43.1 million. On top of this, the Prada purchase has highlighted Gucci's lack of defenses against a hostile takeover...
Maybe it's guilt. Maybe it's genuine charity. No matter. At this point in an economic cycle, with the stock market up and people working and feeling well off, volunteerism tends to get a lift as those with good fortune seek to give back to their community. Incredibly, though, some volunteers find out too late that they are grossly underinsured and, after a lawsuit, must give back way more than they had planned. Consider the unhappy plight of four volunteer directors for the St. Thomas Irish Channel Consortium, which sponsors social programs in New Orleans. The group's board...