Word: bigs
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Dates: during 2000-2009
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...this year, companies in the Standard & Poor's 500 are likely to have lost as much as $400 billion since the start of 2008, according to S&P. It's a sign of just how badly the recession has hit big companies. But it could also turn out to be a leg up for corporations in the recovery. All that red ink could turn out to be a little-noticed boon for corporate bottom lines. That's because companies are allowed to record a tax credit for current losses in order to lower their tax bill when they return...
...extension would mean big bucks for corporate America. And unlike "carryforwards," which can only be realized if a company returns to profitability, carrybacks generate immediate cash, as long as the company has earned money in the past half-decade. The Joint Committee on Taxation recently estimated that the carryback extension would result in refunds of $33 billion to companies...
...big recession surprises...
...comes the fun part for E.U. watchers and anyone interested in political intrigue: Who will get the top jobs in Brussels now that the big reform treaty is in place? Fredrik Reinfeldt, the Prime Minister of Sweden, which currently holds the rotating E.U. presidency, has already begun a round of telephone calls to draw up a shortlist of candidates for the new E.U. president and foreign policy chief positions. An emergency summit could be held as early as next week to decide. (See ten things to do in Sweden...
...does not come down to mere merit - politics, geography and gender will also play a part. E.U. leaders will want to make sure that the three posts of E.U. president, foreign policy chief and European Commission president are split between candidates from the centre-left and centre-right parties, big and small member states, northern and southern Europe, and, if possible, include a woman. (Former Irish President Mary Robinson has emerged as a potential E.U. president candidate.) (See TIME's photos: "New Hope For Belfast...