Word: tailspins
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Microsoft won that bid with its much publicized $5 billion purchase of AT&T stock. Now it's set to provide Ma Bell with up to 10 million set-top boxes preloaded with a stripped-down version of Windows. AOL missed out, and its stock went into a brief tailspin. But broadband is not a zero-sum game--at least, not yet. Case quickly countered with his own new deal, to have Hughes Electronics' DirecTV offer AOL via satellite to its 7 million customers. The resulting product will be called AOL TV. Microsoft, of course, is still pushing...
...could reduce Wall Street to a smoldering heap of debris if you wanted to, but can you make us laugh? Rumor coming out of the Federal Reserve is that you have virtually abandoned your official duties to labor over drafts of your address, sending world markets into a precipitous tailspin. We appreciate the effort, and we hope on June 10 you'll feel it was all worth...
...that performance becomes less, not more. You flip a coin four times, and it comes up heads; you cannot conclude that the next flip will yield a head. And even if a fifth head is coming, it doesn't mean there is no risk of a tail--or a tailspin--eventually. I'd be more comfortable if we got to a 10,000 Dow over a longer period of time, during which earnings could catch up to prices. Probabilities have a nasty habit of reasserting themselves when you are most inured to their risk...
...laureate economists Myron Scholes and Robert Merton, whose market models helped give Long Term Capital an aura of near infallibility. Until September, that is, when word leaked that the firm was in danger of suffering losses so catastrophic they could send the already troubled world financial system into a tailspin. A $3.6 billion rescue package was cobbled together by the Federal Reserve Bank of New York and a consortium of 14 U.S. and foreign lenders...
...scene crystallized fears that the world's top rulers have lost their direction at a time when leadership is desperately needed to pull the global economy out of its tailspin. If confidence lies at the heart of finance, Russia stands as a metaphor for how much of it has been lost. Instead of propping each other up at this most surreal of summits, the two key Presidents seemed to be dragging each other down. Clinton's lackluster public performance only seemed to emphasize the feeble condition of his host country. Yeltsin's failing faculties and crumbling power base reflected badly...