Word: weak
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Dates: during 1990-1999
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Harshbarger's record stands in stark contrast to the weak performance of his opponent, Cellucci, who has been riding the coat-tails of his popular predecessor, William F. Weld '66, and the strength of the state economy. Cellucci has little to show for his more than a year in office. His much-publicized budget cuts this summer removed necessary funding from worker training and adult education programs while doing little to aid the Commonwealth's working families. Finally, Harshbarger and Cellucci differ markedly on the most important issue of this campaign: education. Cellucci has been inconsistent in his support...
...first half of fiscal '98 compared with a $212 million profit for the same period last year; Hitachi lost $1.04 billion compared with a $204 million profit in the equivalent period last year. "These companies will bleed as long as demand at home and in Asia remains weak," says TIME senior business reporter Bernard Baumohl. And therein lies Japan's vicious cycle: The bursting of the country's banking and real estate bubble created a credit crunch throughout Asia, and the consequent financial turmoil shrank markets for Japanese products -- eating into the manufacturing sector that turned Japan into an economic...
...Rongji is a good man, honest, with good ideas," says a mid-level government official in Suzhou, a city 50 miles west of Shanghai. "But even he is too weak to take on all the problems in China." The official then details the extent of corruption, inefficient industry, nepotism and financial chaos that plague his city, a microcosm of the mess China is in. Top cadres routinely "steal" houses for their children, he says, while others divert business loans to their own accounts and then walk away from the repayments. "It goes right to the top. The local party secretary...
...Media One Group just unveiled big buybacks. Airlines are in a good spot because even though traffic slows as the economy weakens, industry leaders like AMR and Delta can stop buying planes and weed out old gas guzzlers. Dividend-paying electric utilities tend to have appeal in a weak economy anyway, but with deregulation, some (Consolidated Edison, New England Electric) have shed capital-intensive parts of the business--generating power--to focus on transmission. In trying times, companies able to conserve cash should hold up best, even if it turns out that corporate buyers sent a false signal...
After the November elections, the Republicans will probably be strong in a weak and somewhat ridiculous country. FRED W. STEUTEL Eindhoven, the Netherlands...