Exact(2)
Corporate leaders have a choice as they work their way through a global downturn: Pull in their horns and ride out the storm, or look for opportunities to go on the offensive and get ahead of their competition.
The utility industry has seen the economic downturn pull the plug on electricity demand, with a turnaround not expected until the next year or two.
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It has also moved quickly to address the global downturn, pulling the plug on its popular Formula 1 racing team and cutting production in Japan and North America.
She defended her efforts amid complaints that high streets continue to suffer during the economic downturn as national chains pull out and supermarkets continue to expand.
Since the downturn, many institutions have pulled back from financing companies and buyouts as they look to reduce their exposure to risk.
Such moves — whatever their timing — would add to the already considerable efforts to shield China's giant economy from the fallout of the global downturn that has already pulled the United States, Japan and much of Europe into recession.
An economic downturn could cause investors to pull their money out of stocks, and lead governments to erect barriers to free trade.
"Shell is clearly not exempt from the squeeze in earnings and cashflow faced by the industry, but with the acquired assets it is likely to have more levers than most to pull through the downturn.
Even now, a decade into Japan's downturn, banks are reluctant to pull the plug on such borrowers.
With the global economic downturn biting hard, Honda subsequently pulled out of Formula One themselves to cut costs amid slumping car sales.
He said it seemed clear that the 18 month hot sales period had passed and that some owners wanted to act before being pulled into a downturn.
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