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...first of Singapore's long-awaited casinos prepares to throw open its doors this month. Citigroup estimates that Resorts World Sentosa, slated to open in mid-February and which will include six hotels and a Universal Studios theme park, will have run a construction tab of roughly $4.5 billion. Adelson says his showpiece project on Marina Bay, boasting Singapore's largest hotel and one of Asia's biggest convention spaces, will cost roughly $5.5 billion by the time it's expected to open around April. (Read about Singapore's turning point in the global recession...
...since November of nearly 9 million Toyotas that are susceptible to uncontrolled acceleration and balky brakes such a shocking story is not so much the company's manufacture of some shoddy cars or even its dreadful crisis management - though those are errors that will cost it more than $2 billion in repairs and lost sales this year. It's something more pernicious: the vapor lock that seems to have seized Toyota's mythologized corporate culture and turned one of the most admired companies in the world into a bunch of flailing gearheads. Not only is Toyota producing more flawed cars...
...Lose Influential Friends The recalls came at time when Toyota was regaining momentum after losing $4.9 billion in its latest fiscal year, as recession-racked consumers parked their money. For much of the past year, hundreds of Toyota employees in the U.S. didn't build cars at all, instead attending classes or doing "maintenance" work on half-built vehicles at idled factories in Texas and Indiana. Toyota kept the workers on in anticipation of better times ahead. Now the company is looking at another year of losses and significant overcapacity in North America...
...increase in question, released on Feb. 1, augments the current budget for Pell Grants by six percent, raising the minimum grant from $5,500 to $5,710. It will also allocate an additional one billion dollars to the National Institutes of Health, constituting a 3.2 percent increase, the largest such increase in eight years. The National Science Foundation, likewise, will see an eight percent growth in the size its budget under Obama’s proposal. These changes will likely make American education available to an even wider group of students, and they therefore deserve praise...
...Paid for, thank you very much, by the taxpayers of Vancouver. More than any other project in recent Olympic history, the $1 billion residential complex represents the risks that urban governments face when trying to host one of the world's biggest parties. The city planned to invest about $47 million in the project back in 2006. However, cost overruns and the recession forced Vancouver to step in and bail out the private developers who were charged with financing the project. The city avoided the humiliation of welcoming the world with a half-built Olympic Village, but at a great...