Word: sectored
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...earlier in the year. Similar dire notices came last week in industries as diverse as health insurance (Aetna), semiconductors (Applied Materials) and automotive products (Delphi). Fear of job loss is spreading among workers in retailing, which is expected to downsize sharply in 2002. Even the booming health-care sector isn't safe if the recession continues into the second half of next year, says John Challenger, CEO of the outplacement firm Challenger Gray & Christmas...
...percent spike and turned it into a 3.4 percent drop) carmakers are doing just what we want everybody else to do. They're refilling their lots. Production of automobiles and parts jumped a whopping 6.4 percent in November, taking the edge off the rest of the manufacturing sector's stubborn statistical lethargy...
...course, back in the 90s, when the living was easy, Wall Street and the private sector always did love it when Congress was at each others' throats - it kept them from smothering the economy with their clumsy, pork-driven attempts at kindness: Fiscal policies that were enacted too late to be helpful and whose effects always lingered long after they were healthful. When it came to the economy, the best thing Washington could do was stay...
...which left the Dow up another 220 points to 10,114 and the NASADAQ up 83 points to 2046, was impressive in that it wasn't tied to any earth-shattering piece of good news. Well, there was the National Association of Purchasing Management's report on the services sector - 80 percent of GDP - which showed a spike in the NAPM index to 51.3 in November from 40.6 in October. And a bunch of analysts said - surprise! - good things about some tech bellwethers...
...Before Sept. 11, the American economy had been expanding every month for 133 months. That created all kinds of distortions and excesses, and the economy was already slowing down. Sept. 11 just accelerated the trend. The attacks gave a license to the private sector to restructure ? firing people, closing down divisions, retrenching from overseas operations ? more quickly and drastically. Sept. 11 may be to the 2000s what the junk bonds and leveraged buyouts were for the 1980s. Companies will clean up their acts and become leaner and more competitive...