Word: turmoils
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...given widespread corporate turmoil, perk-slashing isn't likely to stop at 401(k) plans. In the Watson Wyatt survey, a fifth of companies said they planned to eliminate or reduce training, cancel holiday parties and tighten travel policies. "These are all things about which companies say, 'Could we live without this for another year?' " says Tarantello. "But you don't want people retiring on the job. You want their hearts and minds...
...Increasingly, so do investors, who are losing faith in hedge funds as a safe place to park their wealth during times of economic turmoil. Funds flourished earlier this decade by offering higher returns than investors could get in more conventional vehicles. Because they are largely unregulated, managers are free to employ a wide variety of sophisticated strategies, including short-selling (borrowing a stock and selling it in the hope of buying it later at a lower price to return to the original lender). The objective is to achieve - for hefty fees - consistent positive returns in good and bad markets...
...turmoil has some questioning not just hedge-fund performance of late, but also the industry's essential business model. Hedge funds employ a dizzying array of investment strategies, from reliance upon superstar managers who preside like Delphic oracles to the use of byzantine computer algorithms that pick out minute pricing discrepancies and take advantage of them. The profits on these transactions may be small, but funds multiply them many times over by leveraging their investors' capital. This strategy can go awry - as it did spectacularly in 1998 when Long Term Capital Management, a giant U.S. fund whose founders included...
...levels not seen since the days of the last crisis. Even though South Korea's economy, relative to others around the world, is expected to show some vibrancy - economists expect the country to avoid a recession, while the banking sector remains generally healthy - the renewed onset of economic turmoil has undermined the confidence of South Koreans in their own future. "The economy's O.K., but no one thinks so," says Jeffrey Jones, a Seoul-based attorney and former chairman of the local chapter of the American Chamber of Commerce. "They're saying that not only is the IMF coming back...
...Bush years weren’t splendid times for many people—economic turmoil, wars, that incident with the pretzel—but they were comedy gold. Not since Dan Quayle has America had such a prominently placed source of continual gaffes. Back during the 2000 campaign, when people based their presidential choices on whimsical criteria like “Someone I’d Like To Have A Beer With” or “I Couldn’t Figure Out How the Ballot Worked,” everyone laughed incredulously at the slow but steady...