Word: sectored
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...Real concern will come if the undertow moves to other parts of the economy which have been expected to hold up fairly well. Technology sector firms including Hewlett-Packard (HPQ), IBM (IBM), and Microsoft (MSFT) have cut large numbers of people, although they are still extremely profitable. Another set of broad layoffs among these companies would be extremely bad news. The reaction to increasing unemployment will worsen if job losses spread to the large energy companies and media conglomerates...
...greater faith in the banking system. When the government is doling out large numbers of taxpayer dollars, it matters that individuals feel that their tax money is being spent wisely. We can also hope that the message to corporate executives will be clear: Taxpayers expect discipline, especially from a sector that has come to be seen by many as inept or irresponsible. Otherwise, the distribution of public funds becomes, in the president’s words, “unfair...
...financial sector, rumors that Bank of America (BAC) might be nationalized nearly turned shares in the firm into a penny stock...
...broad swaths of the economy. Through the state-controlled banks, it is bailing out selected business executives who are having trouble paying their debts--including Oleg Deripaska, a metals tycoon who until recently was Russia's richest man. It is also playing an increasingly intrusive role in the private sector. At a meeting in Moscow on Nov. 25, for example, Igor Shuvalov, Putin's First Deputy Prime Minister, told the nation's major retailers that the Kremlin would ensure they gain access to credit on the condition that they demonstrate "social responsibility" by not raising prices...
...television appearance, the first question to him came from Dmitry Salnikov from the village of Tirlyansky, near the Urals region of central Russia. "We are a young and currently jobless family," said Salnikov. "Most locals are also unemployed because they used to work for the metallurgical sector. What are we supposed to do in this situation?" Putin's answer: "Private and public authorities will have to draft an entire range of measures in an effort to preserve jobs...