The Bleeding Edge: Tough Times – A New Paradigm to Manage

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The Bleeding Edge: Tough Times – A New Paradigm to Manage

David Smith

December 1, 2008





The U.S. economic crisis is now global, and enterprises worldwide are wrestling with this issue. Many countries around the world have officially declared that they are in a recession, and experts are predicting that it’s not going to end quickly. Much work and sacrifice will be needed to turn the economy around. In fact, the latest economic data shows that the recession in the United States is getting worse. Here’s why: 

  • In early November, there were 516,000 unemployment benefits applications.
  • House foreclosures in October were up 25 percent over last year.
  • Major stocks have tumbled. For example, the following companies recorded significant losses: Merck, 51 percent; and Google and GE, 54 percent.
  • The Dow Jones Industrial Average, the leading indicator of blue-chip activity, fell 40 percent this year. 

And that's not all - the latest figures show that more than 30 nations announced that they are in a recession. Russia's stock market, for example, has collapsed more than 70 percent this year.



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