Word: swooned
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Dates: during 2000-2009
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...financial-industry meltdown as it is an intense lack of affordability. As the report notes, metropolitan-area New York home prices peaked in the second quarter of 2007 at $552,000. By the first quarter of 2009, the median price had dropped 19%, to $446,000, but the market swoon was less than half the drop recorded in many other areas of the country. Today among the 10 biggest metropolitan areas, New York ranks as the least affordable...
...retailing. During the Golden Week holiday in early May, typically a shopping extravaganza, Los Angeles-based chain Forever 21 debuted its flagship store in Japan. Harajuku girls lined up on five floors full of clothes, shoes and accessories in enough of a dizzying array to make any young woman swoon. It wasn't the first time the giants of cheap chic had stormed Tokyo. Last November about 2,500 shoppers jammed the very same sidewalk for the opening of Swedish H&M, the world's third largest casual-clothing retailer, located next door. And that was just one month after...
Swine flu, recently renamed H1N1 virus, is causing a swoon in pork prices. The Lean Hogs futures contract, traded on the Chicago Mercantile Exchange (CME), is down more than 10% since news of the potentially imminent pandemic first broke. The CME's Frozen Pork Bellies futures contract has suffered comparable losses...
...longtime resident and pro-immigrant activist. Blessed by an abundance of Douglas fir and hemlock, the town once hummed with pulp plants, stud mills and palletmakers. A few decades ago, though, the mighty Columbia began delivering logs from Canada, then ready-made office paper from Asia. The financial swoon of 2008 was just a final insult to what remained of the town's manufacturing base. Most of the major employers have closed in the past six months or drastically cut hours and staff. The town, whose motto in the good times was "The Payroll City," is on the brink...
Ironically, what helped start the rally in mid March were upbeat words from Citigroup CEO Vikram Pandit about Citigroup's profitable performance during the first two months of 2009. Friday's stock market swoon, traders say, was partly triggered by cautious comments from Bank of America CEO Ken Lewis and JP Morgan Chase CEO Jamie Dimon, who both noted that March was proving to be a more difficult month than either January or February. As Dimon told Bloomberg TV while standing outside the White House after a group of bankers met with President Obama, "This downturn - it's pretty powerful...