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Economic Slowdown

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BUSINESS
By Bloomberg Business News | September 3, 1994
NEW YORK -- U.S. stocks declined yesterday amid concern that weaker-than-expected August job growth may signal an economic slowdown and diminished corporate earnings. A sagging dollar and bond market also converged to drive stocks lower.The Labor Department said the economy added 179,000 jobs last month, far below what most economists had expected."If the numbers are as they appear, it doesn't bode well for the economy and profits," said Anthony Dwyer, chief investment strategist at Sherwood Securities Inc.The Dow Jones industrial average declined 15.86, to 3,885.
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NEWS
By John R. Wennersten | August 27, 2009
During the depression of the 1930s, the Chesapeake Bay thrived largely because people let it alone. They quit punishing the bay with overharvesting, and industrial pollution and construction diminished. The result was a maritime environmental bonanza. After the end of World War II, watermen were reporting record strikes of oysters, crabs and rockfish. A roundtable of "experts," including this writer, mulled this scenario at a "Chesapeake Futures" conference held by the Chesapeake Bay Maritime Museum in St. Michaels.
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BUSINESS
April 19, 2008
Caterpillar Inc. Shares in the maker of farm and construction equipment rose $6.69, or 8.5 percent, to close at $85.28 yesterday and are now within $2 of their all-time high despite the U.S. economic slowdown.
NEWS
By JEAN MARBELLA and JEAN MARBELLA,jean.marbella@baltsun.com | November 16, 2008
Ah, twice-a-week garbage collection. It was nice while it lasted - 55 years, apparently - but it's time to give up this municipal luxury. It's time to hold our noses and pry this one out of our cold, Hefty Cinch Sak'd fingers. As the city looks to slash spending - Mayor Sheila Dixon on Friday projected a $65 million gap in fiscal 2010 between what the city will take in and what it will spend to provide the current level of services - going from twice- to once-a-week garbage pickup is an idea whose time has come.
BUSINESS
By REFUTERS | January 5, 1991
DETROIT (Reuters) -- Sales of U.S.-built autos revived with a 8.3 percent gain in late December, according to figures released yesterday, but the good news was not enough to rescue the industry from one of its most dismal years.Auto sales for the year fell 3.1 percent on a daily-rate basis, and industry analysts blamed the economic slowdown for worsening the auto industry's problems."Problems in the economy deepened a recession already going on in car sales," said David Healy of Barclays de Zoette Wedd.
NEWS
By Michael Dresser and Michael Dresser,SUN STAFF | August 31, 2001
Maryland closed the books on its 2001 fiscal year with a surplus of $538 million, $153 million more than state budget officials expected, according to figures released yesterday. The robust tax collections show that Maryland's economy has resisted the national economic slowdown better than most of the nation. The state's cash reserves on June 30 stood at about $950 million -- giving it some cushion against future revenue shocks. Gov. Parris N. Glendening said Maryland's cash reserves are at the highest level in history and more than double the 5 percent required by state law. He said the state is well-positioned to withstand what he called "the souring of the national economy."
NEWS
November 20, 1997
THE BIG BUZZ SAW is coming closer. That Asian economic slowdown which began in Thailand and spread to Indonesia and then to Malaysia is now gripping Japan and South Korea, the world's No. 2 and No. 11 economic powers, respectively.This spreading slowdown will surely dominate the Asia Pacific Economic Cooperation (APEC) forum, meeting now in Vancouver, British Columbia. This 18-nation group was designed to promote burgeoning trade, but instead must focus on rescue efforts so that wounded tigers are not crippled.
BUSINESS
By Bloomberg Business News | March 17, 1995
NEW YORK -- U.S. stocks soared to record highs yesterday for the second time this week as government reports pointed to an economic slowdown that will allow corporate earnings to grow while interest rates fall.Oil, electrical equipment, soft drink, computer and drug stocks led the latest rally, which focused on larger companies with significant overseas sales that benefit from the weak dollar. Stocks also may have gotten a boost from today's simultaneous expiration of stock options, index futures and index options, traders said.
BUSINESS
By Kristine Henry and Kristine Henry,SUN STAFF | October 24, 2001
Blaming the faltering economy, Black & Decker Corp. said yesterday that its third-quarter profit fell by nearly half and that the fourth quarter will also likely be tough going. The Towson-based power toolmaker was in line with analysts' expectations with a $46.4 million profit, or 57 cents a diluted share, for the three months that ended Sept. 30. That was down 46 percent from the $86.3 million - $1.03 a share - it made in last year's third quarter. Sales were down 6 percent from $1.133 billion to $1.063 billion.
NEWS
By John R. Wennersten | August 27, 2009
During the depression of the 1930s, the Chesapeake Bay thrived largely because people let it alone. They quit punishing the bay with overharvesting, and industrial pollution and construction diminished. The result was a maritime environmental bonanza. After the end of World War II, watermen were reporting record strikes of oysters, crabs and rockfish. A roundtable of "experts," including this writer, mulled this scenario at a "Chesapeake Futures" conference held by the Chesapeake Bay Maritime Museum in St. Michaels.
NEWS
By Cassandra A. Fortin and Cassandra A. Fortin,Special to The Baltimore Sun | August 31, 2008
Harford Friends School planned to add first grade this academic year. School officials were looking for four to six students to make up the inaugural class but didn't meet their goal, said Jonathan Huxtable, head of the school. "Only two parents enrolled their children," said Huxtable, who started the school in 2005 in Darlington. "We kind of knew with the economy being so bad, it would be tough. We postponed the addition of first grade until next year." Despite the low turnout for first grade, the school's middle school program is bucking national trends with increased enrollment, Huxtable said.
NEWS
By Lorraine Mirabella and Julie Scharper and Lorraine Mirabella and Julie Scharper,Sun reporters | August 15, 2008
More people than ever are calling the Salvation Army's Baltimore offices this year, asking for help paying their utility bills or for food to feed their families. And contributions from individuals, the charity says, are down $100,000 from a year earlier. Around the state, nonprofits are seeing donations fall and pleas for help increase. Their costs to supply food and other assistance are soaring. And they worry that fundraising will fall far short of goals this year, with even the most steadfast of donors, from individuals to foundations, tapped out in light of the economic slowdown.
NEWS
By Gadi Dechter and Gadi Dechter,Sun reporter | June 23, 2008
Maryland colleges and universities are raising more money than ever despite a faltering economy, though some campuses are worried about declining alumni giving and say that the economic slump, if it persists, could hit the education sector in coming years. As of May 31, the 13-campus University System of Maryland had raised nearly $220 million in the fiscal year that ends this month, a 27 percent increase over last year's total during the same period. At the private Johns Hopkins University, donations are on track to hit $450 million this fiscal year, making it the strongest year ever for one of the nation's fundraising powerhouses.
BUSINESS
April 19, 2008
Caterpillar Inc. Shares in the maker of farm and construction equipment rose $6.69, or 8.5 percent, to close at $85.28 yesterday and are now within $2 of their all-time high despite the U.S. economic slowdown.
NEWS
By DAVID ZENLEA and DAVID ZENLEA,Sun reporter | April 6, 2008
The Annapolis and Anne Arundel County Chamber of Commerce has canceled the Maryland Seafood Festival this year, citing concerns that it would not break even in the unsettled economy. Chamber officials worried that people looking to cut back on expenses would pass on the festival, which funds itself primarily with ticket sales. They also predicted rising fuel costs would limit the event's regional draw. "Our concern is the direction the economy was going will have an impact," said chamber President Bob Burdon.
BUSINESS
By JAY HANCOCK and JAY HANCOCK,SUN COLUMNIST | August 20, 2006
Recession is on the menu. Because of the housing slump, $3 gas, indebted consumers and higher interest rates, analysts increasingly suspect production and employment may shrink in coming months, possibly dealing the country its worst economic blow since 1990. "The U.S. economy is headed for a sharp recession by early 2007," Nouriel Roubini, chairman of Roubini Global Economics Monitor, says on his blog. "Intimations of recession" was the headline on economist Paul Krugman's column in The New York Times two weeks ago. "The economy is slowing, and I suspect that by the end of the year it could very well be in recession," investment strategist Gary Shilling told CRN magazine (formerly Computer Reseller News )
BUSINESS
By KENNETH HARNEY | June 10, 2001
WHAT continues to be the hottest investment in the American economy? If you own a home, you've already got the answer. Defying the spreading signs of economic slowdown, housing values have risen by an astounding 8.8 percent nationwide in the past 12 months, according to the latest quarterly report by the federal agency that tracks home prices. That 8.8 percent jump represents the national average, and includes such local gains as the District of Columbia, 15.4 percent; California, 14.7 percent; Massachusetts, 13.2 percent; Colorado, 12.1 percent; and New York and Rhode Island, both 11.7 percent.
NEWS
By NEW YORK TIMES NEWS SERVICE | February 3, 2001
WASHINGTON - President Bush ventured into enemy territory yesterday, meeting with Senate Democrats to outline his hopes for his first year in office. Later in the day, in a speech to Republican members of Congress at a retreat in Williamsburg, Va., he vowed to make the case for deep tax cuts "over and over again" until Americans are convinced that his plan would help the middle class and act as a remedy for economic slowdown. Bush's spokesman said the Democrats, who met with Bush behind closed doors, listened politely but were "tentative and silent" during his 12-minute speech, which was followed by a brief question-and-answer period.
BUSINESS
By Lorene Yue and Lorene Yue,Your Money staff writer | March 21, 2004
It's no secret that the economic slowdown is hurting the revenues of state governments. What's gone almost unnoticed is how states are trying to make up the shortfall. "The combined average [state and local sales] tax rate rose 26 percent last year," said Diana DiBello, of Vertex Inc., a Pennsylvania tax software company. "That is almost as much as in the previous nine years." The average sales tax rate imposed by states, counties and cities in the United States was 8.534 percent last year.
BUSINESS
By William Patalon III and William Patalon III,SUN STAFF | January 20, 2002
With the economy in a downturn, delinquent loans rising and the potential for interest rates to rise later this year, the banking industry faces some significant challenges this year. Even so, the nation's banking sector is significantly stronger than it was before the 1990-1991 recession, meaning many banks and thrifts could navigate their way to a decent 2002, experts say. "Maybe it won't be quite as good" as last year, said Robert R. Davis, an economist and managing director of governmental relations for America's Community Bankers, a Washington-based trade group.
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