Word: stocking
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Dates: during 2000-2000
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When a bomb went off in the basement of the Jakarta Stock Exchange last Wednesday, killing 15, few Indonesians had any doubt what group was behind it. It was the third bombing in as many months to hit just as former dictator SUHARTO and his family were scheduled to be questioned about corruption allegations. The dilemma facing President ABDURRAHMAN WAHID: how to deal with a powerful, well-connected family that will stop at nothing to protect itself. The next morning, a confidant of the President's urged that he "cut off the head of the snake"--meaning, take direct action...
That was the consensus of TIME's Board of Economists, which gathered in Manhattan to take stock of the economic background to the presidential race now getting into full swing. The group included advisers who have helped shape both the Bush and Gore programs, and they disputed--though with remarkably little heat--the merits of those plans. But Democrats, Republicans and nonpartisan professionals all agreed on the fundamental outlook. And they left more than a hint that it would change little, if at all, no matter who wins the White House...
...next several years. One reason is that companies are putting much more invested capital behind each worker these days. Also, "managers are managing differently." They are concentrating on cutting costs much more than in the past. Partly that is because they have been "scared by international competition." And stock options and other incentives push them to pare expenses as the best way to increase profits at a time when price increases run into stiff resistance...
...same time, Cohen points out, corporations and investors are also doing well. She expects corporate profits to increase at about a 10% rate this winter. That would be only half the "very robust 20%-plus" rise last winter but still "quite comfortable." And though stock markets suffered a severe shake-out last spring, Cohen thinks their future also looks good. Says she: "The stock market performs well when investors have confidence in the durability and longevity of economic expansion, and we think that's what the situation is likely...
...economy and want it to grow. They're up for grabs. The tech-loving, Palm Pilot-wearing Gore should have an advantage with them, but his anticorporate message has turned some of them off. And since many of them use their web browsers to buy and sell stock, they like Bush's idea of investing some of their payroll taxes in the markets. They're pro-choice and anti-regulation. In the end, they'll vote for the candidate they deem less likely to screw up the economy...