Word: downturn
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...economic downturn may play a role in students’ drinking habits, Barreira said...
...Greek government's message. Still, even as Greeks grapple with changing their lifestyles, the fact that they like to spend could turn out to be a blessing. "Greece is a poor country with rich people," says Sarantis. "It's a strange thing." He has a point. Despite the economic downturn, Golden Hall, a luxury mall in the capital that opened in 2008, was packed on a recent postholiday weekend, and the shelves in many of its 131 stores were bare. And when a popular singer, Michalis Hatzigiannis, appeared on an Athens stage for one of his midnight shows...
...economists who predicted the global financial crisis, and his colleague Arnab Das argued in a Feb. 3 opinion piece for the Financial Times that unless Europe works out some formal rules to deal with individual states' problems, "doubts about EMU [Economic and Monetary Union] sustainability will return in every downturn. Sooner or later these doubts will be validated." (See pictures of the global financial crisis...
...Smoking Barrels meets The Golden Girls, with a slightly odd, Germanic twist. Angry about losing $3.5 million in investments last year in the recession, a wily gang of German pensioners were bent on revenge, prosecutors say. So they allegedly did what some who've lost fortunes in the downturn have probably thought about at one point or another: they allegedly abducted their financial adviser and locked him in a cellar for days, demanding he help them get their money back. Now the retirees - all over the age of 60 - are on trial for kidnapping, and they seem as feisty...
...Carpenters Regional Council. "In the summer of 2009, there were 800 jobs on the books to build across the state. We do commercial, high-rise residential and power plants. The permits were ready, but the financing dried up. I am in my 60s and I've never experienced a downturn like this. Three years ago, three contractors would bid on a project. Now 90 contractors bid on a project. That is how desperate people are." (See why teens are suffering in the current employment market...