Word: cash
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...cash-strapped state of Michigan is looking to save money any way it can, and some political leaders have suggested essentially privatizing the state's flagship university. While formally turning the school into a private university would be tricky - requiring legislative approval, a constitutional amendment, and the support of the university's Board of Regents - legislators have proposed eliminating the $327 million in funding that the state provides to the university each year. Making up the state's contribution, however, would require an endowment on the order of $16 billion, a nearly impossible task even in flush times. (Just...
...Rafiq is desperate to cash in on his 9-year-old's success.' British tabloid NEWS OF THE WORLD, claiming that Rafiq Qureshi, father of Slumdog Millionaire child actress Rubina Ali, tried to sell his daughter for £200,000 to undercover reporters...
Kudos to TIME for getting it right on Afghanistan [April 20]. Cash-for-work job programs are the best initial solution in a country where Taliban commanders, financed by opium and other illegal activities, are buying the loyalty of poverty-stricken young men. It may come as a surprise to many Americans that fitness and weight-lifting are fast-growing crazes in Kabul and a popular cult figure is California Governor Arnold Schwarzenegger. The governor's likeness can be found at makeshift gyms throughout the city, which use cinder blocks and old Soviet tank parts for equipment. To many young...
Charge cards have been around since the 1920s, when service stations, department stores and hotel chains began offering them to automobile-loving consumers who didn't want to trek back to their hometown bank to get cash. But it wasn't until the postwar boom of the 1950s that credit cards really caught on. In 1950, Diners Club issued its first card--made of cardboard--for use in 27 restaurants in New York City. A year later, nearly 20,000 Americans carried it in their wallet. American Express, which had specialized in traveler's checks, created its card...
...necessary to limit the damage. The Federal Reserve and Treasury Department are considering a number of options. The alternative is last week's bankruptcy of General Growth Properties, the nation's second largest shopping-center group, which could not refinance, even though many of its properties have positive cash flow...