Word: effect
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...Credit Suisse. One of the restaurants, Eleven Madison Park, features a duck-liver terrine with pineapple and pearl onions on a rum-raisin brioche. The appetizer costs an additional $20 on top of the restaurant's normal $88 tasting menu. But few are buying. "I call it the AIG effect," says Meyer. "Even if you haven't lost your job, you don't want to been seen as extravagant...
...Frank Bruconi, chief economist in the New York City comptroller's office, estimates that lower Wall Street pay and payrolls will reduce the city's income tax revenue by $368 million alone. Then there's the ripple effect. Many other types of companies throughout the city, from law firms and accountants to corporate-car services and dry cleaners, rely on Wall Street companies and their employees for business. Bruconi says the general rule is that one job cut on Wall Street usually results in a reduction of a job and a half elsewhere in the N.Y.C. economy. All told, local...
...income that supports consumer spending, and battered by high levels of volatility in their stock accounts," says Stuart Gabriel, professor of finance at UCLA's Anderson School of Management. The diminished value of stocks, falling home prices and fears about potential unemployment combine to create a negative "wealth effect," making consumers feel poorer. As a result, they spend less. Robert Hansen, professor of business administration at Dartmouth's Tuck School, says unprecedented uncertainty is making the public mood darker still. "People are so unsure of what's out there that they're expecting the worst," says Hansen...
...concerned about the Bradley effect--the theory that secretly racist white people tell pollsters they'll vote for a black candidate like Barack Obama but will actually pull the lever for a white one like John McCain. The truth is that secretly racist white people happily vote for black candidates, listen to black musicians and laugh at black comedians to make themselves feel better about not having black friends. In fact, I once even tried to get all the way through Barbershop...
...however, deeply worried about the Urkel effect, which holds that voters leaning toward Obama will walk into the voting booth and suddenly think, I cannot take four years of listening to that giant-eared nerd. Because people are starting to realize that Obama is not all that cool. He's earnest like C-3PO, emotionless like Spock, overly practical like Encyclopedia Brown and incredibly skinny like C-3PO, Spock and Encyclopedia Brown...