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Woman of the week |
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Cannes President
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Talented Isabelle has been appointed as the president of the Cannes jury for 2009. She is the fourth woman to head this committee...
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Today's Celebrity |
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Producer Jessica Biel
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Jessica Biel’s co-production ‘Hole in the Paper Sky’ is set to release in Australia. This actress who wore the producers cap for the first time, loved hopping around the sets making coffee for the crew.
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Sustaining the Economic Storm
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Written By:
Vivek Sharma
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For past few months economy has been dwindling and people are losing their nerve. With markets gyrating from day to day and the financial system still seeking its footing, no one can be sure what will happen next. Truly it’s a dire situation for all of us, especially financial advisors.
Every online business magazine and financial experts are trying to dope out where the economy and financial markets are heading. Magazines have been constantly suggesting how readers can survive and perhaps even thrive in their business and personal lives. Well undoubtedly, situation isn’t good for all of us. If we pick up Oct. 17th international newspaper, it stated that what we are facing now is biggest decline since it began more than 50 years ago. However, the question here is how much worse might things can get?
Experts feel, possibly a lot. Looking at the mild 2001 dip, we realize that it took four years for employment to regain its pre-recession peak. And it seems again we are same position. Same happened it 1980’s, when the Carter Administration tried to cool off the economy with government-imposed credit controls and succeeded all too well. It also contributed to the sharpest quarterly downturn in real GAP growth in the past 50 years, a nearly 8 percent annualized decline.
Online business magazines expect the biggest hit to the sectors that most depend on credit availability, including the already depressed housing and auto markets. However, it has been confirmed that consumer spending will suffer as Americans lose access to lending and attempt to rebuild their savings. Private, nonresidential construction, which remained strong long after the housing market tumbled, is headed for a crash of its own, predicts Global Insight's chief U.S. economist, Nigel Gault.
Billionaire investor Warren E. Buffett and his Mexican counterpart, Carlos Slim, understand this situation and that’s why they draw from their cash hoards to buy in slumps. Resultantly, Buffett got a sweet deal on Goldman Sachs shares. On a smaller scale, Sugars says he knows a heating/ventilating/air-conditioning contractor in Connecticut who is snapping up smaller, man-and-a-van competitors simply by offering them jobs. Says Sugars: “When everyone else is in panic mode, those who keep their heads about them are generally going to come out of it best.”
If you're an employer, the recession can be a great time to prowl for talent. Employers are looking to replace B and C players with A players, and this gives them an opportunity. Being an employee spread your name around while you still have a job. In other words, you should rebuild your network as quickly as you can, so people know what you do.
It’s true that recessions are unpredictable, as the wild fluctuations in the stock market show. Since no one knows what will happen next, it pays to be adaptable. All we can say that having the right attitude and fortitude trumps any forecast or plan.
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Send Your Query
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Posted :
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06 Nov 2008
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