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BUSINESS
January 3, 1993 | TOM PETRUNO, TIMES STAFF WRITER
In a year in which so much rode on one's image--from the presidential race on down--it seems fitting that National Media Corp. would wind up one of the hottest stocks of 1992. You may not know this Philadelphia company, but you probably know their business: TV "infomercials," those ubiquitous cable and network shows that sort of look like news, but really are staged programs used to sell products.
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NEWS
April 27, 2002 | PETER G. GOSSELIN, TIMES STAFF WRITER
The U.S. economy snapped back from recession and the Sept. 11 terror attacks to grow at a 5.8% annual rate during the first three months of 2002, its fastest in two years. But separately, a widely followed consumer confidence measure slipped to a three-month low, suggesting that consumption--and with it further growth--may slow from its early-year pop.
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BUSINESS
December 22, 1991 | JAMES BATES JAMES BATES..BD: TIMES STAFF WRITER
A sure sign of hard times: The wolf at the door is acting more like a sheep. Craig Doolittle portrays himself as practically a lamb. A former policeman, he specializes in evicting commercial and residential tenants for landlords as general manager of AAA Lessor Services in Pasadena. He's still tough when he has to be, but as times get worse, the operative concept becomes "rehabilitate" rather than evict.
NEWS
March 10, 2002 | PETER G. GOSSELIN, TIMES STAFF WRITER
The nation seems to be emerging from a new breed of high-speed recession, one that's over almost before it's begun. Most of the credit is going to the very same trends that helped fuel the 1990s boom--the high-tech investments intended to reshape the country into a lean, mean New Economy. But don't tell that to Tony Raimondo, whose Columbus, Neb., metal fabrication business "fell off the shelf" 18 months ago and shows no sign of recovering despite substantial investments.
NEWS
April 19, 2000 | MARY WILLIAMS WALSH, TIMES STAFF WRITER
A quarter of a century ago, Ron Fauquher was a central-casting cog of the "old economy," cranking out headlights at a General Motors plant in the eastern Indiana Rust Belt. It was an industry headed for hard times. Then Fauquher and a GM buddy started a software business and hit pay dirt. A bigger company bought them out, installing Fauquher in the executive suite, and now he and his wife eat out five times a week.
BUSINESS
December 9, 1991 | TOM PETRUNO
Where were you in 1972--the last time interest rates were this low? In that turbulent year, the Federal Reserve continued to push rates down to bolster the economy: The rate on three-month Treasury bills fell from a high of 7.81% in 1969 to a 4.07% annual average in 1972--virtually the same decline that we've had between 1989 and today. The Fed's rate tonic worked then: The economy's growth rate rebounded from a negative 0.3% in 1970 to 2.8% in 1971 and 5.0% in 1972.
BUSINESS
June 3, 1996 | From Reuters
U.S. Federal Reserve Chairman Alan Greenspan indicated Sunday that he remains satisfied that the United States' economy is not growing strongly enough to cause concern about inflation, according to sources at an international monetary conference in Australia. One of the sources, who attended a Greenspan briefing by video link with Washington, said he thought the Fed chairman sounded "rather sanguine" about inflation in his private talk to commercial and central bankers attending the conference.
NEWS
October 15, 1996 | JAMES GERSTENZANG, TIMES STAFF WRITER
Joe Pavao knows that somewhere in the huge American workplace, the North American Free Trade Agreement has wreaked havoc. "But for me," he says, "it's only good that has come out of it"--a steady job paying $9.31 an hour, plus health insurance, for dispatching tractor-trailers filled with upholstery fabric to Mexico. Now look 864 miles west to Fredonia, Wis., where Marvin Windsor, a 25-year veteran of assembly-line work, lost his $40,000-a-year job 15 months ago when the Square D Co.
NEWS
April 9, 1993 | JACK NELSON, TIMES WASHINGTON BUREAU CHIEF
Amid cries of "fascism" and "McCarthyism," a bitter fight has erupted between conservative Republican leaders in Congress and the U.S. Chamber of Commerce that reflects the deepening split within the GOP and the shadow it casts over the party's future. U.S. business, represented in Washington by the Chamber and similar organizations, has long been a mainstay of the Republican Party.
NEWS
February 12, 1993 | DAVID LAUTER, TIMES STAFF WRITER
Saying that the nation faces a crisis that could undermine future living standards, President Clinton flatly told an audience of business leaders Thursday that the economic package he plans to offer next week will raise taxes for both individuals and corporations. Clinton has walked around the subject of tax increases rhetorically for weeks.
NEWS
January 21, 2002 | GREG MILLER, TIMES STAFF WRITER
Under attack for his firm's role as auditor of Enron Corp., the chief executive of Andersen said Sunday that he was unaware of any instance in which the energy giant broke the law, and he sought to focus blame for Enron's collapse on its business model rather than its dubious accounting practices. "There is nothing that we have found that was illegal," said Joseph F. Berardino. "People want to focus on the accounting, and I think that's fair game.
NEWS
January 6, 2002 | EDWIN CHEN, TIMES STAFF WRITER
In an opening round of election-year rhetoric, a spirited President Bush vowed Saturday that his signature $1.35-trillion, 10-year tax cut would be repealed only "over my dead body," accusing Democrats of wanting to raise taxes. "I challenge their economics when they say raising taxes will help the country recover," the president said defiantly at a town hall meeting here, with about 5,000 enthusiastic Southern Californians repeatedly interrupting his remarks with applause.
NEWS
January 3, 2002 | WARREN VIETH, TIMES STAFF WRITER
Only four years after celebrating the end of chronic deficit spending, Congress soon will be forced once again to raise the federal debt ceiling so that the government can keep operating. Treasury Secretary Paul H. O'Neill has notified Congress that the current $5.95-trillion debt ceiling could be breached as early as February. He asked lawmakers to move quickly to raise the limit to $6.7 trillion. "Sure, it's a big deal.
NEWS
December 31, 2001 | EVELYN IRITANI, TIMES STAFF WRITER
With cuts in jobs and rock-bottom interest rates spreading like viruses, the ailing global economy greets the new year in its most fragile state in more than a decade. Most countries are looking for something to lift them out of their recessions, and their eyes are firmly fixed on the United States. This year, the world got a glimpse of a life with a recession-wary American consumer, and it was not a pretty sight.
NEWS
December 29, 2001 | WARREN VIETH, TIMES STAFF WRITER
A sharp rebound in consumer confidence and other upbeat indicators suggested Friday that the recession may have found a bottom and a recovery could be in the cards early next year. Consumer sentiment improved markedly in early December as the shock of Sept. 11 began to wear off and Americans anticipated better days, according to a monthly survey by the Conference Board.
CALIFORNIA | LOCAL
December 25, 2001 | SHARON BERNSTEIN, TIMES HEALTH WRITER
In health care, 2001 was a year of great anticipation followed by dramatic disappointments. It was supposed to be the year that millions of poor children and their parents in California received health insurance through an expansion of the federal Healthy Families program. An infusion of cash from Sacramento was supposed to be on its way to the state's beleaguered trauma care system.
NEWS
December 1, 1998 | NANCY RIVERA BROOKS and CHRIS KRAUL, TIMES STAFF WRITERS
Prices of crude oil and retail gasoline fell Monday to historic lows, a milestone that signals further woes for the oil industry and oil-producing countries and continuing gains to consumers and the U.S. economy. Adjusted for inflation, oil and gasoline prices are now at their cheapest levels since the U.S. government began keeping these statistics.
BUSINESS
July 1, 1992 | JONATHAN PETERSON, TIMES STAFF WRITER
Hughes Aircraft's plan to slash 9,000 aerospace jobs over the next 18 months comes as the latest wallop to the economy of Southern California, already injured by recession, riots, earthquakes, a state budget crisis and other lingering woes. But despite the unhappy outlook that thousands more formerly secure aerospace workers will lose their jobs in coming years, cutbacks in the industry will slowly diminish as a threat to California's economic future, analysts predicted Tuesday.
NEWS
December 25, 2001 | WARREN VIETH, TIMES STAFF WRITER
They held out, hunkered down and bought time where they could. But one by one, the states are becoming casualties of the recession. As their revenues decline and reserves dwindle, state governments are responding to the downturn just like distressed private-sector enterprises--cutting costs, reducing work forces, deferring investments. Next week, Michigan will lay off prison guards as part of its emergency plan for erasing a huge budget shortfall.
NEWS
December 16, 2001 | DAVID G. SAVAGE, TIMES STAFF WRITER
President Bush pressured Senate Democrats on Saturday to back a proposed economic stimulus bill that includes a tax cut for Americans with the highest incomes, saying the delay is causing more workers to lose their jobs. "I call on the leadership of the Senate to bring this bipartisan economy recovery plan to a vote," the president said in his weekly radio address. "While the Senate has failed to do its work, more and more Americans have been thrown out of work."
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