Word: bidness
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Banks looking to invest the money they raise through deposit-gathering are finding that the numbers barely work at all. Easton Bank's Menzies, for example, recently lost a bid to get $5 million in cash from a local government in exchange for the bank's issuing the government a one-year CD. The winning bidder agreed to pay the government 3.72%. Menzies had offered 2.69%, which he considered a high rate, one that probably would have netted him just a 0.04- or 0.05-percentage-point profit after he rolled the money into an investment like a Fannie Mae mortgage...
...Iceland. Though they expect credit-crunch delays, the nation's domestic power firms are sticking with plans to nearly treble the geothermal power Iceland produces in a bid to woo companies like aluminum giant Alcoa and tech heavyweight Google. Internationally, a new crop of Icelandic investment firms have started pumping money into projects, offering partners from Djibouti to the Philippines capital, skills and - perhaps most importantly - a sense that this also-ran of renewable energy is really viable. "I think [geothermal power] is the paramount moral obligation of Iceland in the modern world," President Olafur Grimsson told TIME. "There...
...timing is convenient for Bush as well. If he's now willing to consider a Senate run, then it's fair to assume he's also now open to a presidential bid, either in 2012 or 2016, when the Senate term would...
...Crist's possibly tepid enthusiasm for a Bush bid could be another important factor. It seems unlikely that "the Sunshine Governor," whose popularity and approval ratings have eclipsed even Jeb's (though Crist calls Bush Florida's "greatest governor"), would want to move from the governor's mansion of the nation's new bellwether state to an opposition backbench on Capitol Hill. But Crist's national aspirations were on display this year when John McCain courted him as a possible running mate, and the governor's first term ends, coincidentally, after the 2010 election. Even if Crist decided...
...claimed to be among the pirates aboard the Faina, captured in September. "We said if there is money they are ready to pay, then we will release the ship." And the $3 million figure confirmed by Gel-Qonaf represents a relative bargain in comparison to the pirates' opening bid of more than $25 million...