rosenberg - the concise encyclopedia of the great recession, 2007-2000 (2010)

[...]... at the fastest pace, 0.6 percent, among the globe’s thirty-three advanced economies The economy expanded 0.6 percent from the first quarter On October 6, 2009, Australia became the first G-20 nation to raise interest rates since the beginning of the Great Recession, setting a stage for further central banks increases The Reserve Bank of Australia raised its main interest-rate target one-quarter of. .. in the United States went out of business At the end of the quarter there were 19,738 auto dealers in the United States, down from 20,009 at the end of 20 • AUTOLIV 2008 Another 1,200 dealers were expected to permanently close their doors before the end of the year See also AUTOMOBILE INDUSTRY AUTOLIV The world’s largest maker of air bags for cars said in March 2009 that it would cut 3,000 jobs in the. .. and Bob, Liz and Jon are the next generation, and they appear already in place as contributors to their communities and chosen areas of work Of course, four grandchildren—Bess, Ella, Celia, and Rita—make this all come full circle, with the delights of just watching and being fascinated by the ever-changing rainbow in their lives READER’S NOTE The Concise Encyclopedia of the Great Recession 2007–2010... stay afloat At the beginning of March, the government overhauled its $150 billion bailout of AIG hoping to support the ailing insurers The arrangement, the government’s fourth, represented a near reversal of the one first given in mid-September Going from the government serving as a demanding lender, thereby forcing AIG to pay a steep interest rate on an anticipated short-term loan, the government... would still imply that, despite the depressed international environment, the impact of the financial crisis and the fall in the terms of trade should be relatively contained Unemployment is likely to increase, however, and inflation may dip below 3 percent in 2010 The expected reduction of inflation due to the current slowdown, along with the need to preserve the stability of the financial system, militates... from the previous year in their Florida resort Its theme division shed about 1,900 jobs through a combination of layoffs and buyouts and restructured many of its behind-thescenes operations Profit declined in the second quarter 2009 by 26 percent Net income fell to $954 million from $1.28 billion the year earlier Fourth-quarter 2009 profit at Walt Disney rose 18 percent, with an $895 million profit... lent a total of $150 billion to AIG, the most the government had ever invested in a single private enterprise But Fed officials said the $40 billion investment would permit them to reduce their exposure of $112 billion from $152 billion, and improve the condition of the collateral for its loan The government invested an additional $22.5 billion in AIG to help the firm buy residential mortgage-backed securities... million from the IMF and $550 million from the World Bank Exports accounted for only 10 percent of the nation’s GDP AT&T • 17 ARTS, THE Art organizations are pulling back as they are having increasing difficulty attracting support About l0,000 art organizations, or 10 percent of the U.S total are at risk of closing Art groups get about 40 percent of their income, more than other nonprofits, from private... euros The job cuts, about 1.3 percent of the global work force of 77,000, suggested more hard times ahead A fourth-quarter 2008 report indicated a net loss of $5.07 billion Their first-quarter 2009’s loss was $536 million On July 30, 2009, the company posted its first quarterly profit since its creation in 2006 Alcatel-Lucent had earnings of $19.6 million On October 30 it reported that its third-quarter... obvious that the initial amount was insufficient As part of the revised plan, the Fed indicated that it would reduce that credit line to $60 billion The government then announced on November 10, an overhaul of its rescue of the insurance giant, indicating it would purchase $40 billion of the firm’s stock, after indications that the initial bailout was placing too much strain on AIG When the reorganized . by the ever-changing rainbow in their lives. xiii READER’S NOTE The Concise Encyclopedia of the Great Recession 2007–2010 has been pre- pared with the hope that the reader’s understanding of the. Data Rosenberg, Jerry Martin. The concise encyclopedia of the great recession 2007–2010 / Jerry M. Rosenberg. p. cm. Includes bibliographical references and index. ISBN 97 8-0 -8 10 8-7 66 0-6 (hardback : alk requires the tapping of many sources, which is especially true of this book. By the very nature of the subjects and fields included, I have had to rely on the able and extensive efforts of others,