Word: assets
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...with a combination of criminal fraud charges against executives and massive back-tax claims that far exceeded the firm's revenue. Yukos' main oil-production unit was auctioned off to a single low bidder that turned out to be a front company for Rosneft. Those confiscated Yukos assets now constitute about 70% of Rosneft's oil production and reserves. The company's initial public offering (ipo) prospectus lists more than $47 billion in outstanding legal claims relating to the Yukos affair, and Khodorkovsky's lawyer, Robert Amsterdam, decries Rosneft as "the handmaiden of expropriation." Security Even some investors...
...fund, the Macquarie Infrastructure Group, which Macquarie manages for an annual fee of up to 1.25%, depending on its market value. If this fund outperforms its benchmark, Macquarie also pockets a juicy incentive fee of 15% of the profits. "It's a hedge-fund model being applied to infrastructure-asset management," says financial analyst Brian Johnson of JPMorgan Securities...
...Asset-wise, the government can find vehicles to help people. Create accounts where we match what low-income families are able to save. Access to college is a big thing. We need to knock down some of the bureaucratic barriers for low-income kids to go to college. We've got a model project that we've got in place for a small poor county in eastern North Carolina, where we call College for Everyone, where every child in the county can go to college. We pay for their tuition and books their first year, if they commit to work...
...front of payday and predatory lenders, yes, they should be regulated. Not only should they be regulated - to prevent the extraordinary interest rates that they charge families - but we need to put these families in a place where they aren't so susceptible to them. That's why asset creation and ability to create assets is so important. Also I do think that you can't ignore the societal responsibility part of it. You can't do just one thing; they all need to be done. Teenage pregnancies. All these families I meet with, the kids are having kids...
...India does possess one indispensable asset, which has sustained its democracy and catapulted it to the cusp of global power: the ingenuity of its citizens. And nowhere is it in greater supply than in Bombay. "Things just happen here," says Sanjay Bhandarkar, managing director of investment bank Rothschild's India. "Because people have to make things work themselves." The rise of China has been the product of methodical state planning, but India's is all about private hustle, a trait that Americans can appreciate. Rakesh Jhunjhunwala, a billionaire trader in Bombay, says initiative represents Bombay's--and India's--advantage...