Word: bigs
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Dates: during 2000-2009
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...reason for the wide disparity is how the costs are allocated. In Vancouver's case, there's a big debate about how to account for two major projects being built for the Olympics: a light-rail link connecting the city to the airport, and costly upgrades to the Sea to Sky highway, which winds north along Pacific fjords. Should these projects be part of the Olympic budget or (because they will presumably serve the city for years afterward) part of the general municipal budget? Either way, the projects will take decades to pay down...
...will pay the FDIC all of the fees that they believe they will owe the agency through the end of 2012. But even though the banks will make those payments this year, they won't show up on 2009 income statements. Instead, each bank will add an asset, a big one, to its balance sheet, right below where the cash they just handed over to the FDIC used to be. It will be called something like prepaid FDIC premiums. The asset will shrink each quarter by the amount each bank normally would have paid the FDIC. As the bank shrinks...
...case of big banks like Bank of America or Citigroup, the upfront payments could run to a few billions. But the FDIC and analysts say banks will be more than able to cover it. Cash flow is not their problem. Capital is. And because the prepayments won't hit earnings, at least not initially, those capital ratios we have been worried about to show if banks are solvent won't change. Banks, all too familiar with accounting tricks, seem overjoyed by the FDIC's solution...
...Though investors' confidence is up overall, certain doubts remain. Slighlty more than 20% of those surveyed had very little or no confidence in the stock market. Skepticism about company financial reports was a big factor: Approximately 69% expressed no confidence or only some confidence in financial reports, up from...
...claiming victory, Merkel said she wanted to be a "Chancellor for all Germans, so Germany does better, particularly in a crisis." Most commentators have interpreted that statement as a signal to the FDP that it's the CDU who will make the big decisions. Merkel says her top priority will be to create jobs and get the economy back on track. The question of how that's best done is likely to define the new government...