Word: dismally
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...short-term loan and told the company that it had until March 31 to come up with a plan for its long-term survival. It did - but its strategy was premised on projections that car sales would begin to pick up this year after last year's dismal industry performance, in which sales sank 18%, to 13.2 million units. But the pickup hasn't happened yet, and analysts see the industry's production "run rate" at or below 9 million units. (Read about Detroit's efforts to reinvent itself...
...begin the process of "pre-announcing" their numbers. Most public companies want to race out bad news quickly, so that they cannot be accused of sitting on material information that could be damaging to shareholders any longer than is necessary. Earnings for the first quarter of 2009 will be dismal. Securities analysts, with a multi-decade track record of being overly optimistic, are the very people whom investors rely on for forecasts. Earnings will not only be bad, they will be worse than expected...
...contracted 8.4% from the same period a year earlier, making it the worst quarter on record. South Korea's GDP shrank 3.4%, Singapore's fell 4.2%, and Hong Kong's dipped 2.5%. Eric Fishwick, head of economic research at the brokerage CLSA in Hong Kong, predicts the dismal numbers will persist. He expects GDP in Taiwan and Singapore to contract at double-digit rates this year. "We've never seen an external shock in Asia like this," says Fishwick...
...banner headline of the international financial group's March 9 report, but, particularly for developing countries, the devil runs rampant through the details. (Really, when a report is titled "Swimming Against the Tide," you know there's not much good news forthcoming.) The World Bank paints a downright dismal picture of the growth prospects for developing countries, which are just now beginning to feel the full repercussions of the credit crisis that started in the United States. The World Bank expects number of people living below the poverty line to increase by 46 million worldwide, just as credit for developing...
...would end up a short-lived presidential campaign didn't endear him to his constituents either. "How can he identify himself as D-Conn. when he lives in Iowa?" asked a Connecticut Post editorial at the time. In the Quinnipiac poll, Dodd's approval ratings came in at a dismal 41%; that makes him even less popular than Joe Lieberman, the independent junior Senator who left the Democratic Party after losing his primary race and then crossed what was left of his party lines to endorse John McCain for President. "It's a legitimate question to ask; I'm certainly...