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...through a shakeout similar to what we've seen in the housing market. How does that analogy work? Private-equity firms used the same cheap credit that caused the housing bubble to buy companies. There are about 100 of these firms - KKR, Blackstone and Carlyle are some of the bigger ones - and they buy a company the same way we would buy a house. Put down about 20% and borrow about 80%. The big difference is, the company they're buying borrows the 80%, so they're the ones responsible for repayment. These loans were structured the same...
...necessary," says Sereno - which means that the 20-ft.-long PancakeCroc could have taken down some reasonably large dinosaurs, like a multiton, long-necked sauropod, for instance. And SuperCroc, which was probably too heavy to run and likely lurked at the water's edge, could have taken even bigger ones...
Whatever you make of the psychology of happiness, we know something of its physics. It rises as it ricochets off other people, returning to us stronger by virtue of being released. It gets bigger when we don't care if it gets smaller; we stopped buying all the stuff we didn't need that was supposed to make us happier, and we seem to be happier for it. And who would have expected that...
...back a generation to the house with the white picket fence. It had a black-and-white TV with an antenna, a car in the garage, a chicken in every pot and two kinds of lettuce (light green and dark green). Now the average house is more than 50% bigger, the car is twice as powerful (and there's often more than one), the TV is flat and gets 900 channels, and we expect the grocery store to have strawberries year-round and about 50 flavors of mustard. Small wonder we started charging our life-insurance premiums on our credit...
...getting the kinks out for the younger guys, who are definitely going to be a huge help to us next year, we’re in a strong place to build off of. We’ve taken big steps towards performing better in the Ivy League and in bigger races...