Word: term
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...making, shot into overdrive in the wake of the corporate failures and takeovers that began with the collapse of Lehman Brothers on Sept. 15. Less than two weeks earlier, on Sept. 4, the Association for Financial Professionals surveyed more than 350 large companies about how the availability of short-term credit (or the lack thereof) was affecting business. Seventy-one percent said there was no significant impact, 11% said growth had slowed, and only 2% said business had contracted...
...trade group was shocked to see the results of a similar survey they ran three weeks later, between Sept. 26 and 29. Thity-seven percent of companies said that as a result of reduced access to short-term credit, they had cut capital spending during the previous month. Twenty-six percent had frozen or reduced hiring, and 22% had considered layoffs. Ten percent had reduced inventory, and 7% had contemplated closing stores or factories. Workers and customers of the world, those are effects you'll feel...
Calling the current economic downturn the “worst financial crisis since the Great Depression,” Jeffrey A. Frankel, a Kennedy School professor in capital formation and growth, warned against a potential long-term depression, such as the one that Japan experienced in the 1990s...
...Bloomberg's reversal underscores why term limits inspire robust debate, as both proponents and detractors can claim their position upholds democracy's bedrock principles. Supporters say term limits hold politicians accountable, usher in fresh views that shake up static power structures, and mitigate an incumbent's advantages. Opponents argue that in addition to creating lame ducks, term limits snatch away the public's fundamental right to choose their elected officials...
...everyone considers his business acumen fair justification for the decision. Congresswoman Nydia Velazquez told the New York Times the move was "un-American," while the city's comptroller called it "an attempt to suspend democracy." Bloomberg himself has supported term limits since taking office in 2002, and said he continues to favor them. "You're not taking away term limits. You're simply going from two terms to three terms," he said...