Word: traded
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...complaint of overwork sounds dissonant during a global recession, but it is precisely because of the plunge in global trade that Lee, who works for a ship-supply company, is clocking up so much overtime. The World Trade Organization predicts the volume of global trade will shrink by 9% in 2009, the worst fall since the Great Depression. As a result, a fleet of empty ships lie idly at anchor just outside the territorial waters of Singapore, the world's busiest port. "The pile up of ships in the Straits is a reflection of the collapse in trade until...
...performance? It depends upon your time horizon. If you are looking for the next three to five years we would be looking at those that have management transparency and credibility, and where management has been able to deliver results. Now there is also what we'll call a "beta trade" in banks - these are the lower-quality banks that have been beaten up the worst, the ones people have more fundamental questions about, whether they will be broken up or will fail. Everything is rallying at the moment, but we would much rather be in the former group, the long...
...usual period of commenting, and there's always a chance that such a fragile coalition of politicians, greens and auto executives could collapse. But the very fact the White House brought - and kept - everyone at the table offers some hope as the much tougher battle over carbon cap and trade boils in Congress. "President Obama made the creation of a clean-energy economy a key aspect of his domestic agenda, and he's fulfilling that," says Weiss. It's a good start - but there's still a long road ahead...
...most obviously, has the political context. Abortion has forever been blown by electoral trade winds; when the right was in charge, people feared the return of coat hangers in back alleys. Now that the left leads, they fear abortion on demand. The very meaning of the labels adjusts; calling yourself pro-choice at a time when a liberal Democratic President and allies in Congress are lifting abortion restraints may imply no qualms at all, and that's not where most people...
...crisis is compounded by the way California's government works. In most states, the legislature can pass a budget by simple majority vote. The politicians haggle and horse-trade, but a budget eventually gets passed and life moves on. In the Golden State, bitter partisanship is exacerbated by a constitutional rule requiring a two-thirds majority in the legislature to pass either a budget or new taxes. Meanwhile, the state's nearly 100-year-old system of ballot initiatives has progressively tied state government in Gordian knots...