Word: cashed
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...businesses such as law firms, investment banks, car companies and retailers cut jobs and move to less expensive offices, the commercial real estate industry is collapsing with astonishing speed. None of the unfinished buildings were erected with cash from the developers. Banks put the money up for the physical location and structure, and perhaps even the rent from tenants, as security deposits in most cases. The land is no longer worth much. The buildings are half empty or unfinished and tenants are leaving, and, in many cases, defaulting on their leases. Lawsuits to get payment of those obligations are long...
...clear whether the bonuses, which Citigroup says are for 2008 but won't start paying out until 2010, will be allowed. Under compensation rules passed by Congress in mid-February, cash bonuses are barred for top executives at bailed-out banks. (See pictures of the global financial crisis...
...lost his job as a software developer in August, and since then Anglesea, 54, of Chuluota, Fla., hasn't given a dime. What he has done, though, is triple his hours as a volunteer AARP tax counselor helping people fill out tax forms. "I'd like to give cash, but I can't," he says. "So I'm committing to more hours as a substitute...
...Cash-poor, time-rich volunteers like Anglesea have every right to believe that what they are doing is just as valuable as handing over cash. Indeed, the charity world puts a cash value on volunteers' time--$19.51 an hour, estimates Independent Sector, a think tank for charities. But food banks still need supplies to distribute, and volunteers' shift toward time, not money, is only part of what threatens nonprofit budgets for years to come. Traditional bastions of financial support have plenty of their own problems. Corporations and foundation endowments have been crushed by the stock market. State governments...
Nonprofits unprepared for what appears to be a historic influx of volunteers risk sending those folks home underappreciated and losing them forever--not just as volunteers but also as cash donors when the economy revives, says John Power, executive director of the Volunteer Center in San Francisco. Power is seeing more volunteers turned back to him by agencies that can't handle the larger numbers. Furthermore, he says, a chief concern now is that as nonprofits look to cut their budgets, the first heads to roll may be the paid staff that oversees volunteers. Suddenly volunteers...