Daniel Gross

Stories by Daniel Gross

  • The U.S. Economy Faces the Guillotine

    America is on the road to recession, and many predict a worldwide slowdown. But it's a new economic order, and the emerging markets could take the lead.
  • Supply-Side Nation

    The post-boomer career path--at nearly every level of the income ladder--is more like a maze than a straight line.
  • Q&A With Henry Paulson

    Treasury Secretary Henry Paulson on the price of oil, China and who's to blame for the credit crunch.
  • A (Dollar) Sign of the Times: It’s Not Easy Being Green

    In late June, with no local currency in my pocket and a case of jet lag that only a doppio espresso could cure, I stumbled into a familiar London storefront. I whipped out my Starbucks card, which still had about $8 left on it. But when the barista rang up my coffee and newspaper, his smile crinkled into a frown. "I'm afraid you're all out," he said. "That'll be another 40 pence. Cheers!" I had just been punked by the weak dollar.In 1971, Treasury Secretary John Connally told foreign counterparts that the dollar is "our currency, but your problem." Well, 2007 may have been the year the slumping dollar became our problem, too. Thanks to several macroeconomic factors—a slowing economy, the Federal Reserve's accommodative interest-rate policy and a lack of confidence in the U.S. financial system due to the subprime debacle—2007 was a bad year for the greenback. The dollar last summer hit a 27-year low against the British pound and a 31-year nadir against the Canadian dollar. The trade...
  • Exec Desperately Seeks SWF

    Must be rich. No green card or English required. Send photos and balance sheets to Wall Street.
  • Holiday Retail Redux

    An optimist's view of the season's confusing economic news.
  • Q&A With Jim Cramer

    The CNBC anchor on his new book, the mortgage mess and the on-air competition at Fox Business News.
  • Subprimes: From Bad to Worse

    The mortgage mess isn't causing our worsening economic condition; it's a symptom of a far more serious problem.
  • Vietnam vs. China

    Why Vietnam is turning up its nose at Chinese goods.
  • 1st Class Airports in 3rd World

    In the developing world, Urban life is a hieronymus Bosch-like vision of tangled traffic, crumbling infrastructure, overcrowding and crippling economic inefficiencies. The population of Vietnam is 85 million souls, of which roughly 84.7 million are driving motorbikes through the center of Ho Chi Minh City right now. In Phnom Penh, the streets leading down to the picturesque Mekong River waterfront are lined with uncollected garbage.But the airports—ah, the airports—in these poor countries are First World havens, oases of cleanliness, serenity and order. The United States, the wealthiest nation on earth, presents the flip side of this paradox. Outside the airports, it's a model of calm and prosperity. But step inside, and conditions instantly degenerate. Citizens queue in interminable lines and suffer humiliating treatment at the hands of surly authorities. In the first nine months of 2007, only 73.2 percent of flights at the top 32 U.S. airports arrived on time, and one of every 138...
  • Business: Hanoi's Hilfiger

    The spiel of a rising Vietnamese manufacturing executive wouldn't sound out of place on CNBC-and underscores the country's economic growing pains
  • The Sermon On The Mall

    The pessimists err by continually viewing holiday shopping as a item, subject to short-term economic whims.
  • Funeral Homes Face Hard Times

    It's a tough time to be in the death-care business—or what all us non-undertakers refer to as funeral homes. At Service Corp. International (SCI), the Houston-based giant with 2,000 homes, the number of services conducted fell 2,131, or 4 percent, from last year. And revenue per funeral barely kept pace with inflation, rising just 2.7 percent. At the Batesville Casket Co., a unit of publicly held Hillenbrand Industries and one of the largest U.S. coffin makers, sales in the first nine months of 2007 were flat compared with 2006.In theory, death care should be immune from short-term economic swings. Death is one of only two sure things in life, and the U.S. population is aging. "This is one industry that pretty much holds strong regardless of the economy," says Mike Nicodemus, funeral director at Hollomon-Brown Funeral Homes, a 10-operation chain in Virginia Beach, Va. But costs for raw materials (wood, flowers) are rising, while the flow of customers has slowed. "There's been a...
  • New No-Name CEOs

    Why you haven't heard of Citigroup's new CEO.