2007: the year in review.ONE thing's for sure about 2007: It's one year that won't be passed over in the history books. The biggest business story of the past 12 months was by far the tectonic shift in the housing market, which marked the end of its decade-long advance with slumping sales and prices--and the utter collapse of the subprime lending  This article or section may deal primarily with the U.S. and may not present a worldwide view. market.
And if that were only all. The ensuing widespread credit crunch Credit CrunchAn economic condition whereby investment capital is difficult to obtain. Banks and investors become weary of lending funds to corporations thereby driving up the price of debt products for borrowers. slowed mergers and acquisitions, and now threatens the general economy. But despite a lingering Hollywood writers' strike at year's end, it wasn't all bad news. L.A. was still in the midst Adv. 1. in the midst - the middle or central part or point; "in the midst of the forest"; "could he walk out in the midst of his piece?" midmost of a building boom, the region's video game industry was flourishing--and, for better or worse, Gov. Arnold Schwarzenegger Arnold Alois Schwarzenegger (German pronunciation (IPA): [ˈaɐ̯nɔlt ˈaloɪ̯s ˈʃvaɐ̯ʦənˌʔɛɡɐ] made a bold move to reform California's health insurance system. Check it all out in this end-of-year package. [ILLUSTRATIONS OMITTED] |
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