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"It's not a precipitous move," he said of the new co-op.
The precipitous move has triggered questions on whether other high-flying equity markets were due for a correction.
The United States might weather a sell-off or even benefit from the drop in the dollar's value, but any precipitous move could further disrupt the skittish financial markets.
Contrast Microsoft's out-of-character precipitous move the day before the analyst's meeting with Facebook's confident stealing of a page from Google's book with a revised Facebook Connect and a reward-based developer program.
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At the same time, some veterans of the Bush White House warned against making precipitous moves, or even changing the mission.
Mr. Chen's party platform calls for an independent Taiwan, although Mr. Chen has said he would make no precipitous moves.
Fixed-income funds are where investors have traditionally looked for safety and low volatility, unlike stocks, and such precipitous moves are rare.
He then embarked on several precipitous moves of his own -- reversing a campaign pledge to cut carbon dioxide emissions, suspending rules requiring mining companies to observe sound environmental practices and weakening enforcement of the Endangered Species Act.
Investor worries worsened after Alan Greenspan, chairman of the Federal Reserve, and Paul H. O'Neill, the Treasury secretary, said that Washington should avoid precipitous moves to lift the economy with additional spending or interest rate cuts until the economic impact of last week's attacks becomes clearer.
Most industrial firms understand that precipitous moves to limit greenhouse gases and decimate domestic fossil fuels threaten America's international competitiveness.
Carla has called him, so he knows how precipitous Betty's move in firing her was.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com