Word: cashed
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...card in hand, our behavior becomes riddled with irrationalities. In one experiment, Drazen Prelec and Duncan Simester of the Massachusetts Institute of Technology found that people were willing to pay twice as much for basketball tickets when they were using a credit card as opposed to paying cash. Credit-card spending just doesn't feel like real money. In another study, Nicholas Souleles of the University of Pennsylvania and David Gross of the consultancy Compass Lexecon calculated that the typical consumer unnecessarily spends $200 a year in interest payments by keeping a sizable stash of cash in savings or checking...
...Almost lost amidst all the headlines about crisis aid to the automakers, the U.S. Department of Energy is now preparing to release $25 billion in loans appropriated last autumn to speed up the transition to more fuel efficient vehicles. The cash is supposed to be used for specific projects that increase fuel economy. Ford, for example, has applied to use some of the federal cash to convert an assembly plant in suburban Detroit from building trucks to building small cars and electric vehicles. The project costs $550 million and Ford hopes to use some of the DOE cash. GM, Chrysler...
Navigating America's Other War 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. This is one country where many insurgents would drop their weapons if someone paid them to do something other than fight. 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...
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. To many young Afghans, he embodies the virtues of discipline, goal-setting and accomplishment. Afghans prefer the U.S. to the Taliban, but they have suffered too long...
...light of the dramatically altered financial landscape, FAS has scaled back its capital ambitions to match the new economic reality. Relative to the capital aspirations from one year ago, FAS has reduced the capital plan for the next two years by more than 50 percent. Only projects that are cash-funded or critical to the maintenance of the FAS’s primary mission – such as essential life-safety upgrades and expenditures associated with faculty recruitment – will be funded in the near term. That said, FAS will continue to reinvest in its nearly...