Living with Volatility: Best Business Books 2002

摘要

He spectacular bankruptcies of Enron and Arthur Andersen at the close of 2001 were followed by the similar collapses of WorldCom, Kmart, and UAL Corp (parent of United Airlines) in 2002. Scandal and recriminations dominated business news in 2002―a year in which the Houston Astros' Enron Field was safely rechris-tened Minute Maid Park. Wall Street, along with most economists, remained uncertain as to what direction the New Economy would take. Many feel that the positives of in- creased productivity, low interest rates, and continued consumer spending will finally outweigh concerns over the weak labor markets and the geopolitical strains from the Iraq standoff, terrorism in general, and new tensions with North Korea in 2003. President Bush's plans for tax cuts for individuals and businesses and an extension of unemployment benefits are aimed at jumpstarting the economy. Businesses and investors, however, were generally wary throughout 2002, waiting to see if anything―the latest earnings figures, UN inspectors' reports, housing starts, or stimulus package―could trigger an upswing.