Word: billion
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Dates: during 2010-2019
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...name is a nod to a Comcast technology initiative called Project Infinity, which CEO Brian Roberts unveiled at the 2008 Consumer Electronics Show. Under Project Infinity, the company's video-on-demand views have more than doubled, to 14 billion cumulative views, over the past two years. Internet speeds have tripled. Comcast's online movie and television-show choices jumped from 3,700 in the first quarter of 2008 to 19,100 by the end of 2009. The company is changing, so Comcast feels the name should change with it. "At its core, Xfinity is infinite potential," says David Watson...
...financial crisis, Lehman Brothers built up huge positions in real estate, derivatives and bonds. That all came crashing down in the fall of 2008, when the tumbling housing market and rising mortgage defaults caused the credit markets to seize up. In all, Lehman lost more than $32 billion from proprietary trading and principal transactions during the year and a half leading up to the financial crisis and since, according to a TIME analysis of Securities Exchange Commission filings and bankruptcy-court documents. That's nearly double the $18 billion in common equity the firm had in late 2006, just before...
...Lehman wasn't alone. Merrill Lynch lost nearly $20 billion on investments in collateralized debt obligations (CDOs). Morgan Stanley had a nearly $4 billion loss in proprietary trading in the fourth quarter of 2007. Goldman Sachs spent $3 billion to bail out one of its hedge funds. And Citigroup has poured more than $3 billion into fixing its problems with structured investment vehicles, investments the bank set up with its own capital. Like Merrill, Citi lost big - as much as $15 billion, on the CDOs it decided to hold rather than sell off. In fact, nearly every large financial firm...
Indeed, it was these so-called principal investments that did in Lehman Brothers. In 2006, Lehman Brothers generated 58% of its revenue from proprietary transactions, up from 33% in 1998. In 1998, Lehman held just $28 billion in securities and other financial instruments. By 2007, at the beginning of the financial crisis, Lehman's holdings of these investments had increased more than tenfold, to $313 billion, up nearly $100 billion from the previous year alone...
It’s baffling because the cancellation of the Constellation moon program is tantamount to taking the nine billion dollars already spent on the program over six years and setting it on fire. It’s baffling because the decision will eliminate thousands of jobs—this comes days after the President said in the State of the Union, “jobs must be our number one focus in 2010.” It’s baffling because the decision could not have been made to save money, since the proposal actually increases NASA?...