Word: bankes
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...team training for the Winter Olympics turn for help? Stephen Colbert. Seriously. On Monday night's Colbert Report, the mock-blowhard host of the Comedy Central show announced that he will ask his loyal fans to donate money to the U.S. Speedskating team, whose largest commercial cash sponsor, Dutch bank DSB, just went belly-up. (Colbert snarkily referred to DSB as "Deposit Savings in Bong.") In exchange for the publicity and potential revenue, Colbert Nation logos will be stitched onto the suits of both long-track and short-track skaters during World Cup competitions before the Olympics. Right...
This isn't some kind of prank, right? "We're not viewing this as a joke at all," says Crowley. Colbert really is throwing U.S. Speedskating a lifeline. The Dutch bank had been the U.S. team's most generous benefactor (speedskating is huge in the Netherlands), but a run on the bank caused DSB to go under in mid-October, leaving U.S. Speedskating with a $300,000 budget shortfall. "The Olympics are our Super Bowl, Masters and Tour de France combined," says Derek Parra, a 2002 speedskating gold medalist who is now one of the coaches for the U.S. team...
...help the foreclosure situation. It should help. Ironically enough, I think foreclosure sales are contributing to home prices stabilizing. In one way, we have certain markets that may have overcorrected. If you go to a Stockton, Calif., or a Las Vegas or somewhere like that, when there is a bank property on the market, the realtors are getting dozens of offers above asking price. We're seeing bidding wars at the lower end of the market. I think what we're seeing in terms of the home prices may be a little bit of a false positive because of some...
...created a Michigan Land Bank to assemble properties so that we can not just auction them but make them available for job providers. The bottom line is, Detroit was built as a city for 2 million, and it's got less than a million people now, so we've got a lot of vacant space...
Most of the time, the troops just busy themselves with field exercises in the local farms and orchards. But every so often, things heat up. This summer, China pressured the board of the Asian Development Bank to block a $2.9 billion loan to India, arguing that part of the money would go to a flood-control project in Arunachal Pradesh. The governor of the state, a retired army general named J.J. Singh, then announced that India would deploy 50,000 more troops up there, though he tells TIME the additional troops were planned well before any hint of tension...