Word: bearings
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Dates: during 2000-2009
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...average American household would have to buy $276,000 a year in carbon credits to counteract their carbon emissions, a price tag few Americans would be able to afford. Moreover, even if every American household could afford carbon credits, the result would be that Third World countries would bear the burden of our excessive lifestyles. While carbon credits are a viable short-term option for industry and an important step toward reducing greenhouse gas emissions from the corporate sector, they are not practical for American families...
...from Woolworth's to Kmart, has eventually spit the bit, unable to cope with market shifts. Wal-Mart is a far superior operator to any of those has-beens--it will produce $20 billion in operating income this year. But being king is an awfully heavy weight to bear, and Wal-Mart is feeling the strain...
...Then the subprime credit crisis hit, and suddenly some high-flying hedgies had their heads handed to them. Two Bear Stearns hedge funds worth a total of $1.5 billion collapsed due to their exposure to toxic subprime debt, a debacle that was preceded by the subprime-fueled demise of a hedge fund run by Swiss bank UBS. Basis Capital, an Australian firm with more than $2 billion in assets, was forced in August to liquidate its Basis Yield Alpha Fund, which had previously been one of Australia's best-rated hedge funds. Numerous quant funds, which use computerized analysis...
...Indeed, hedge funds in their original form were designed to reduce investment volatility by profiting in bear markets as well as bull. But some wonder if the industry is in danger of becoming a victim of its own success. The number of funds has swelled from 6,297 in 2003 to nearly 10,000 today, raising concerns that an influx of young, inexperienced managers will find it increasingly difficult to post market-beating returns. Managers charge a lot for their expertise - typically a 2% annual management fee plus 20% of profits. But with funds multiplying in both diversity and complexity...
Last week, governor Deval Patrick hosted a fantastically well-attended rally for Barack Obama’s presidential campaign. There, speaking to a crowd on Boston Common bearing banners of catchy words like “Change,” “Hope,” and (even) “Movement,” Obama tried to prove his anti-establishment credentials by pledging to put an end to the “game-playing in Washington.” Four days later, ten thousand gathered at the same location in a national day of anti-war activity...