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2001 Year

BUSINESS
January 1, 2001 | From Reuters
Billionaire U.S. financier George Soros said the United States was in for a "bouncy and hard" landing as the world's largest economy slows, but his main concern was for spillover turmoil in emerging markets, according to a local newspaper report Sunday. In an interview with Chile's influential El Mercurio newspaper, Soros also said he expects the U.S. Federal Reserve to lower key interest rates aggressively at the start of 2001 but that a new global crisis was inevitable.
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BUSINESS
January 1, 2001 | From Reuters
Brocade Communications Systems Inc. President Gregg Reyes said he is comfortable with consensus earnings estimates of 63 cents a share for the fiscal year ending October 2001, Barron's reported in its Jan. 1 issue. The San Jose-based maker of equipment designed to improve data storage in computer systems reported earnings of 28 cents a share for the year ended October 2000, adjusted for a stock split on Dec. 22.
NEWS
January 1, 2001 | From Associated Press
With cheers, fireworks and hugs, the third millennium officially began in the continental United States--a more subdued celebration than a year ago but, for many, still a great opportunity to party. The year 2001 clicked over in a chilly Times Square in New York City, while fireworks sprang to life along the Delaware River and New Englanders paused from digging out after their first major blizzard in five years.
BUSINESS
January 1, 2001 | SALLIE HOFMEISTER, TIMES STAFF WRITER
2001 will be another big year for the media-business deal makers, at least that's how we read the tea leaves. Industry analysts, investors and executives tell us to expect the sale of Yahoo; NBC to be cut free from its parent, General Electric; and Comcast to buy AT&T's cable systems. And that's just for starters. Skeptical? Many of our annual predictions have come to at least partial fruition. For example, a hostile takeover of Time Warner by America Online was in last year's forecast.
BUSINESS
January 1, 2001 | KATHERINE BALDWIN, REUTERS
Although the glitter and glamour might have faded, Latin American Internet investors heading into 2001 say they are still flush with cash--but a lot pickier. Nursing their wounds from a year blotted by the slump of technology shares and a succession of "dot-com" dreams turning to dust, investors are on the lookout for ventures that show a clear path to profit. "There's clearly a lot of people out there with money.
BUSINESS
December 31, 2000 | E. SCOTT RECKARD, TIMES STAFF WRITER
Nationally, the tourism business is slowing. An economic "soft landing" has already begun for hotels, said PricewaterhouseCoopers, which predicted profits will grow at a slower rate in 2001 than at any time since 1992. Bear, Stearns & Co. recently downgraded ratings on the stocks of six hotel companies. But in Southern California, the outlook appears to be much brighter, thanks largely to the Feb. 8 opening of Walt Disney Co.'s long-awaited "second gate" next to Disneyland--California Adventure.
BUSINESS
December 31, 2000 | SHARON BERNSTEIN, TIMES STAFF WRITER
The coming year promises a wild ride for most players in health care--not to mention consumers who depend on the industry for their health and well-being. In California, the greatest consequences for all concerned probably will come from the continuing troubles among the medical groups around which managed care in the state is organized. Dozens of groups have gone out of business or filed for bankruptcy protection over the last two years, and more are expected to fall in 2001.
BUSINESS
December 31, 2000 | NANCY CLEELAND, TIMES STAFF WRITER
After several years of modest but steady gains in membership and political clout, organized labor is bracing for potential setbacks under incoming Republican President George W. Bush. Unions poured money and energy into the campaign of Bush's Democratic rival, Vice President Al Gore, and stood behind Gore throughout vote recounts in Florida.
BUSINESS
December 31, 2000 | TOM PETRUNO
All those in favor of another big round of creative destruction, say aye. Say what? Creative destruction, a term coined by an Austrian economist named Joseph Schumpeter who died in 1950, has been the guiding force of the U.S. economy virtually since its inception, and especially in the last 10 years.
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