Word: americanization
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...ways Twitter will change American business...
...already underwater on your mortgage, there's a decent chance you will be. According to a new report from Deutsche Bank, up to 25 million American homeowners could eventually owe more than their house is worth. That would account for 48% of all mortgage holders...
...This isn't the first time we've heard exceptional numbers on upside-down borrowers. First American CoreLogic figures there were already 11 million homeowners in that position at the end of last year, and Moody's Economy.com estimates we had reached 15 million by the end of March. The Deutsche Bank projection assumes that house prices nationwide will drop an additional 14%. That forecast is starker than most, and if it doesn't come to pass, the problem of underwater borrowers won't be nearly as severe. (See how Americans are spending...
...initial data released by Department of Transportation, however, shows that so far cash for clunkers has been a green success. The clunkers averaged 15.8 m.p.g., compared with 25.4 m.p.g. for the new vehicles purchased, for an average fuel-economy increase of 61%. On the whole, American drivers are trading in inefficient trucks and SUVs for much more efficient passenger cars. Car manufacturers like Nissan are already retooling some models to improve their fuel economy so they can qualify for the credits. The early numbers were enough to convince California Senator Dianne Feinstein to go from criticizing cash for clunkers...
...almost half a century later, American adults are going to theaters to see new X-Men, G.I. Joe and Star Trek movies, Paul McCartney was the headliner at this year's Coachella music festival, and a new George Harrison album has just been released. At home I wear jeans and sneakers, like most other grownups, and for my birthday I got a new iPhone. Computers and GPS devices are what we have today instead of Etch A Sketches and Erector Sets and Morse-code telegraph kits. Adults of my parents' generation did not bicycle, roller-skate, or play army; adults...