Word: annualized
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With his puppy-dog eyes and trademark cowboy hat, 75-year-old Doyle Brunson is one of the most recognizable players on the professional poker circuit. This summer marks the 40th annual World Series of Poker (WSOP), and the Texas native has competed in all but two of them - more than anyone else in the event's history - and racked up 10 championship bracelets, tied for second all-time. On the eve of this year's "Main Event," a $10,000 buy-in No-Limit Texas Hold 'Em tournament which starts July 3, TIME caught up with Brunson to talk...
...California experienced a dramatic escalation in home values, property tax assessments skyrocketed. Especially vulnerable were seniors on fixed incomes. When then Gov. Jerry Brown and the legislature dithered, conservative activists led by Howard Jarvis put a seductively simple sounding proposition on the ballot. Under Proposition 13, the annual real estate tax on a parcel of property would be limited to 1% of its assessed value and this assessed value would only increase by a maximum of 2% per year, until a change in ownership. Voters responded and Proposition 13 scored a dramatic victory with 65% of the vote. Property...
...Wang Zhizhi, who was drafted by the Dallas Mavericks in 1999 - Yao is by far the most prominent. A seven-time NBA All-Star and pillar of the Chinese national team, his angular face can be seen on everything in China from Coke billboards to Visa ads. His annual endorsement income last year was estimated at $36 million, more than triple that of the next highest-paid Chinese sports pitchman, hurdler Liu Xiang...
...According to a recent University human resources report, 19 staff members out of 59 eligible employees accepted buyout packages at HKS. University spokesman Kevin Galvin has said in the past that the average participant in the University's buyout program had an annual salary of $67,000 and that the reductions were split half-and-half between hourly employees and administrative and professional staff...
...most to us, that our health costs are the world's highest because our health care is the world's most thorough. But a slew of research by the Dartmouth Institute for Health Policy and Clinical Practice has found that as much as 30% of our annual $2 trillion-plus medical bill may be wasted on unnecessary care, mostly run-of-the-mill diagnostic tests, office visits, hospital stays, minor procedures and prescriptions for brand-name wonder drugs advertised on TV. Our soaring health spending is on course to bankrupt the Treasury - along with state and local governments...