Word: amounting
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...ordinary for a recession. Typically, companies ring up tax credits in down years and use the credits to plump up the bottom line when business picks up. But what is turning the run-of-the-mill tax credit into a bonanza this recovery is the huge amount that corporate America has lost in the past two years. Also, stimulus spending has turned around the economy and corporate profits faster than normal for a particularly deep recession. The speedy turnaround in corporate profits, which are expected to soar 60% in the fourth quarter, is raising the value of the tax credits...
...smaller and smaller effect." Also, while some experts applaud the idea of extending the credit beyond first-time buyers, they wonder if the $6,500 credit is large enough to make a serious dent. "The move-up buyer is buying a more expensive product and yet the amount of money being offered [as a credit] is smaller," says Bob Curran, managing director at Fitch Ratings...
...qualify for those loan-modification programs. People with those problems will inevitably wind up going into foreclosure. Secondly, we're going to see a whole slew of option-ARM loans reset next year. In many cases, these properties are going to be upside on the loan amount. In other words, the homes will be worth less than what's owed on the loans. The only way these loans will qualify for modifications is if the lenders took a huge principal-balance write-off, and we just haven't seen any appetite for that...
...University with little or no money in their treasury. This has taken a turn. Now the graduating classes have run moneymaking events during their senior year with the assistance of the Harvard Alumni Association. Consequently, the classes are now leaving the University with an amount that enables them to do many things, including mailings prior to the Fifth Reunion informing class members of future events. The Class Treasurer works closely with the Class Secretary deciding on the budget and logistics of Class events. For more information see Class Treasurer Suggested Minimum Standards...
...money to real estate developers, who have added inventory to what were already overbuilt residential and commercial markets in several major Chinese cities. And now the government has turned around and acknowledged that the mind-bending surge in bank lending - by June of this year, total lending exceeded the amount for all of 2008 - has done nothing to rebalance China's economy between consumer and producer. In fact it's done the opposite: late last month, the National Development and Reform Commission, an important policymaking body, conceded that it must start implementing rules aimed at reducing overcapacity in several...