Word: whirlpools
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...Ohio, even good news has dark shadows. The local Whirlpool plant employs about 4,000 people and produces 23,000 clothes dryers per day, but it's nonunion. "It takes a while before you're making $30,000 a year there," Hughes told me. "Hard for us to give mortgages to people making so little." But it's not hard for predatory lenders. The mayor of Marion, Scott Schertzer, told me that "we've gone from 57 foreclosures 10 years ago to more than 500 last year...
...city of Cambridge itself has continued its custom of festooning Harvard Square with strings of lights. Overhanging Massachusetts Avenue at various locations, peculiar whirlpool-shaped designs shed blurs of light on the automobiles and pedestrians passing below. These odd illuminations alert visitors and residents alike of some impending festive occasion, but remain ambiguous as to what that occasion might be. Lights during December traditionally signal Christmas, even when arranged in no particular pattern, but the Cambridge decorations seem to imply some other holiday by their strangeness: something new, something different, something starkly conscious of a Christian heritage they carefully avoid...
...Jack Bogle wrote a senior thesis extolling the virtues of the small but growing mutual-fund industry. At the time the reigning view of the stock market was that expressed 1 1/2 decades earlier by the great English economist (and speculator) John Maynard Keynes: it was a "casino," a "whirlpool of speculation," a "game of Snap, of Old Maid, of Musical Chairs." Young Bogle argued that the growth of professionally managed funds would bring a new age of calm rationality to the market and thus "militate against Lord Keynes' dismal and socialistic conclusions...
...sign of the frenzy is deal jumping. In the past, such a tactic was rare in the private-equity club. Historically, going-private transactions were bumped only when a strategic buyer jumped in, such as Whirlpool Corp. against Ripplewood in the Maytag contest, or Building Materials Corp. of America's attempt to bust up the Carlyle Group's buyout of ElkCorp. For PE investors deal jumping was considered a faux pas. "It has long been suspected that there is an unwritten gentleman's agreement among private-equity firms to refrain from jumping each other's deals," said Chris Young, director...
...while you'll still have to do the folding yourself, Whirlpool is testing a line of "smart" washers and dryers, which enable consumers to monitor the status of their rinse cycle remotely and control the washer or dryer by computer or cell phone. But presumably it still takes a human hand to separate the lights from the darks...