Word: cash
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...stab at stimulus includes annual cash handouts to families with children of $3,350 per child, free high school education, the elimination of highway tolls and a four-year freeze on Japan's 5% consumption tax. A balanced budget is out of the question for now, but the DPJ says it can help pay for additional programs by cutting $97.8 billion in "wasteful" government outlays...
That may sound like a lot of money--Duncan plans to give his share to charity--but it's chump change compared with the kind of cash he gets to play with at work. The economic-stimulus bill passed by Congress in February included $100 billion in new education spending. Of that total, Duncan has $5 billion in discretionary funding. That money alone makes him the most powerful Education Secretary ever. "I had very little--in the single-digit millions," says Margaret Spellings, Duncan's predecessor. "That's millions, with...
...pressing issue facing the region - from its agenda, resolving merely that a committee of three SADC members would "review" progress on power-sharing between Mugabe and Tsvangirai. Mugabe himself continues to delay the formation of a unity government, while his top brass seem focused on squirreling away as much cash as they can for as long as they are able. Mugabe's foot soldiers continue to harass, imprison and murder MDC activists. (See pictures of political tension in Zimbabwe...
...tepid performance stems in part from the quality of companies coming to market. Several listings have come from the cash-strapped real estate and infrastructure sectors, and were perceived as overpriced. Says a Mumbai investment banker: "The market has run ahead of itself, and fundamentals aren't supporting present valuations...
...Network, which has exposure to increasingly wealthy Indian consumers. "We're waiting for consumption-oriented companies to list," says the Mumbai banker, "because they will be a better play on the India growth story than the companies we've seen so far, which came in mainly because they were cash-strapped...