Word: turnarounds
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...Though Houston no longer relies so heavily on the energy business (down to 48% of the local economy from 82% in 1982) the turnaround sure feels good after the city lost more than 15,000 energy-sector jobs two years ago, says Barton Smith, director of the Institute for Regional Forecasting at the University of Houston. It has gained those jobs back, plus some. Says Smith: "The current boom is what's keeping Houston afloat while the rest of the country is suffering...
...good news, however, is far from solid. The turnaround that was once popularly scheduled for fall has now been pushed back to winter. And because of the generally gun-shy, spooked-herd state of U.S. business these days, the turnaround may not get going until the turnaround gets going (you know what we mean...
After renault took a controlling stake in nissan in 1999, the French carmaker sent in Carlos Ghosn, a Brazilian-born, 47-year-old turnaround expert, to lead the overhaul. TIME's Tokyo bureau chief Tim Larimer recently spoke with Ghosn about the most dramatic makeover to date of a Japanese company...
...That could mean that the Fed's surprise move at the end of April may have had a slight impact on lifting consumer sentiment. With the Fed acting aggressively to end the slowdown, a turnaround in consumer confidence could be in the works...
...Greenspan has cut 2 full points from the short-term interest rate and demonstrated that he is indeed committed to avoiding a recession, the upshot of Tuesday's news is probably that the Fed will cut again by a half-point at the May 15 meeting, barring some unforeseen turnaround in the indicators...