Word: thingness
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Employment consultant Martha Finney doesn't pull any punches when she talks about layoffs. "The very first thing we should all do is just cop to the fact that it could be us," she says. "If we're drawing a paycheck, we could be losing that paycheck. Period." Her new book, Rebound: A Proven Plan for Starting Over After Job Loss (FT Press) is intended for those who are nervous about their job security or find themselves on the unemployment line. With 3.6 million jobs lost since the recession began in December 2007, that's a lot of people. TIME...
...work with in your future, especially if you work in a very tight industry or a region like the Bay Area, where people know each other for years and years. They just cycle through the various companies. You're going to see these people again. So the last thing you want is a reputation for being vicious. (See the 25 people to blame for the financial crisis...
...thing that all financial calamities have in common is that they are unexpected, at least by the officials who are supposed to keep an eye out for these things. There were no plans for oil prices to spike up before the Arab Oil Embargo in the 1970s and no roadmap to follow after the S&L crisis the following decade. Banks can be brought down by fraud and errors in large gambles made on proprietary trading desks. Most of the things that cause systemic failure are unexpected and therefore cannot be prevented...
...Much of a Good Thing the problem with the tiger economies is that, four decades on, the spirit of Park Chung Hee is alive and well. While the mix of products may have changed from sneakers and stuffed toys to microchips and flat-panel TVs, the tigers remain heavily reliant upon exports to power growth. And like any addict, they're now experiencing the pain of rapid withdrawal as factories close and millions of workers across the region lose their jobs. Homelessness is on the rise in South Korea's capital, Seoul, where at 2 a.m. each night the city...
...suffered recessions before, of course, and bounced back strongly. But this downturn is different. Unlike during recessions in 1997-98 and 2001-02, Asia's favorite customer - the American consumer - appears to be making profound changes in his purchasing habits. In the long run, this may be a good thing. Roughly 25% of Asia's final exports end up in the U.S., and economists have been warning for years that America's penchant for borrowing and spending, coupled with Asia's pattern of saving and selling, created massive trade imbalances that would ultimately prove to be economically destabilizing...