Word: stocking
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Dates: during 2000-2000
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...your noun--either education or spin. Music-business executive Danny Goldberg, a former head of Warner Bros. records, says the merger both "validates the Internet and validates the value of content." But it also forces the invention of a new currency to reflect it; as the AOL and TWX stock prices yo-yoed up and down last week, it was clear that investors had no idea how to put a price tag on something that was neither an Internet highflyer nor an old-economy cash-flow locomotive. AOL lost about 20% of its value before recovering to $63. Time Warner...
Childish feelings of mini-deprivation like this are, I suspect, helping fuel a run on luxury products for kids by parents who feel that their darlings should never go without. The robust economy and stock market have created a lot of new prosperity, and parents are increasingly swaddling their children in cashmere crib bedding, bespoke baby ball gowns and tuxedos for toddlers. At the same time, they are worried that their kids take wealth for granted, and struggle to prepare their teens for a less lavish life once they get out on their own. Inevitably, some Wall Street investment advisers...
...should have said, "No, thank you" and bowed out on top. Michael Jordan did it. So did Jerry Seinfeld. Babe Ruth didn't--and finished feebly in Boston. I'm not saying Greenspan will go down in flames. In 12 years, he's steered us through a stock-market crash, banking crisis and emerging-market disasters and hasn't gone soft. But as the wild gyrations in stock prices so far this year suggest, the Fed's job is getting tougher, and that raises odds that the Great One will mess...
Running the Fed is an ever more complicated chore these days. Greenspan has to wrestle with whether he should curb stock-market inflation, not just consumer-price inflation, and whether he should tolerate rapid growth, hoping productivity gains keep wage and price inflation in check...
...working anymore. Long-term rates are up sharply, yet the economy won't chill. That's why the stock market is jumpy. After a decade of the bond market's preventive medicine, it may be time for surgery. Greenspan may have to step up with a bold, unpopular plan for higher rates...