Word: base
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...This defiant inattention to market reality not only placed the less healthy firms in peril, but by pricing labor so uniformly high, it also closed off Detroit to any possible diversification of its industrial base. When the automakers' inattention to engineering, style and quality caused them to crash into a wall of consumer indifference, there was no other industry that could step forward and employ workers who would have been thrilled to make even a fraction of what they once earned. Now nearly 1 in 3 Detroit residents is out of work - and not many of the unemployed have...
...Zazi met or trained with terrorists along the Afghan-Pakistan border, any insights we glean could add considerably to our ever expanding base of knowledge on al-Qaeda or other terrorist groups," says a U.S. counterterrorism official. "That's a good thing for us and very bad thing for our enemies...
...spend November in a forward-looking frame of mind. Visit, too, the Gedenkstätte in Dresden, www.bautzner-strasse-dresden.de, the still forbidding former city headquarters of the Stasi, the D.D.R.'s pervasive ministry of state security. Or take a look at Leipzig's Museum Runde Ecke, www. runde-ecke-leipzig.de, another Stasi base that is now an authentically preserved museum filled with examples of how East German society was controlled. They are enough to cure any misplaced notion of the D.D.R. as a place where life was badly dressed but somehow simpler and more virtuous. "I sympathize with the idea of Ostalgie," says...
...Mack has spent much of the past year putting Morgan Stanley on safer ground. He has dramatically lowered borrowing and shut down the firm's proprietary trading desk. He changed Morgan from a Wall Street dealer to a bank holding company, and more than tripled the firm's deposit base, which is a safer source of capital. And in a major break from the bank's 70-year history he de-emphasized investment banking as the driver of Morgan Stanley's profits. In June, he completed the purchase of a majority stake in Salomon Smith Barney's brokerage division, instantly...
...Morgan, unlike Goldman, seems to be really interested in building up its deposit base. Last year, the firm hired former Wachovia executive Cece Sutton to run its retail-banking division. Last month, Morgan said it would soon be adding more employees in Charlotte and New York to help expand its banking operations. Already the bank has nearly tripled its customers' deposits to just over $100 billion...