Word: bailouts
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...prototypes at the North American International Auto Show in Detroit this week. Ford announced that it hopes to have an all-electric vehicle, which would be able run for 100 miles on a single charge, on sale by 2011. Chastened by their collapsing sales and sustained by infusions of bailout cash, GM, Chrysler and Ford need to come up with ways to revolutionize car design, clean up the environment and wean the industry off foreign oil. The concept of all-electric cars has faced some resistance, but the big three seem readier than ever for change - and the idea...
Read Five Questions (and Answers) About Citi's Bailout...
...figures on the page, well beyond human scale and intuitive understanding. And yet as discussion about the economy and the impressive numbers that come along with it continue to dominate the news, it may be more important than ever to try to understand. Is a $700 billion financial-industry bailout a lot? Is a $775 billion economic-stimulus package enough? (See the worst business deals...
...Numbers Game, Dilnot and his co-author, journalist Michael Blastland, suggest dividing government spending by the number of citizens and the number of weeks in a year. A $700 billion bailout thereby translates into $45 per week for each American man, woman and child. Going one step further, it comes out to $6 a day. Are you willing to pay $6 a day to have a functioning financial system...
...looked elsewhere. The E.U. efforts were almost all aimed at the Russians rather than the Ukrainians. They also spoke with Ukrainian officials. It helps that the E.U. is Ukraine's largest aid donor. Ukraine is facing a financial meltdown, and recently asked for a $16.4 billion International Monetary Fund bailout. Gazprom, owing around $60 billion and seriously short of cash, currently has storage reservoirs so full that it risked having to burn off some of its surplus if the gas was not pumped out soon...