Word: annualized
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...unprecedented four-month decline of 22 percent that would mean sweeping budget cuts for Harvard's largest school. A stalwart presence at Smith's side during these cutbacks and layoffs, Sweet has served a crucial role in the FAS administration, which has found itself saddled with a $220 million annual deficit to close over the next two years...
...from personnel attrition and the University's voluntary early retirement incentive program, are part of the $77 million of FAS budget cuts announced in May, Bradt said. But even after the recent downsizing and other service reductions, FAS, the University's largest school, still has a projected $143 million annual deficit that Smith says must be eliminated by fiscal year 2011. As a result, the School has now embarked on a process of "resizing and reshaping" its operations...
...assets include half ownership of music publisher Sony/ATV, worth $1 billion. His small remaining interest in Neverland could skyrocket in value; so will his personal items when sold. But his staggering debt, perhaps $500 million, reflects a lifetime of indulgence on antiques, houses, helicopters, more than $100 million in annual upkeep on the 2,500-acre (1,000 hectare) Neverland estate and the hosting of an army of parasitic hangers-on, pseudo advisers and business partners whose main concern did not seem to be him. Says a source with knowledge of Jackson's finances: "All these other guys tried...
Bottom line: the dollar faces a longer-term challenge, and the big players know it. Echoing a call made by Zhou Xiaochuan, its governor, in March, China's central bank advocated a new global reserve currency in its annual financial-stability report released last Friday. Raising concerns of a move away from the dollar as the world's reserve, the proposal for a "super-sovereign" coin nudged down the greenback vs. a host of major currencies. That may have been a tad more impact than Zhou was seeking: with something like two-thirds of China's roughly $2 trillion...
...FAFSA) - the form to apply for federal dollars - cutting at least 20% of the questions and making it easier to fill out online. For months now, Duncan has discussed the possibility of making Pell Grants an entitlement or guaranteed benefit like Social Security that would be protected from annual budget cuts. Duncan is also trying to transition to a system in which students get all their college loans from the government, rather than going through banks and other private lenders. The new IBR program does not apply to private loans. (See pictures of the college dorm's evolution...