Word: cashed
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...said it made $26 million last year, about half of what it made in 2007. The odds are that the Star Tribune will lose money this year if its ad revenue drops another 20%. There is no point for creditors to keep the paper open if it cannot generate cash. It could become an all-digital property, as supporting a daily circulation of more than 300,000 is too much of a burden. It could survive if its rival, the St. Paul Pioneer Press, folds. A grim race...
...unbelievable ratio. Even in hedge funds, which are ordinarily leveraged [i.e., more than 100% invested], they are now less than 100% invested, in some cases less than 50% invested. So everyone is maximum defensive, which is basically good news because if the fundamentals turn, there's plenty of cash to get the market going. On the other hand, the news is still bad and investors have been burned. The market was down 37% last year; it's down more than 20% this year. People feel they are in a situation that is fundamentally different from anything that they have experienced...
First-Class Spa. Lufthansa has opened a spa lounge for first-class customers in Concourse B of the Frankfurt Airport. Passengers can book massages, facials and other treatments, and pay for them with miles or cash. The spa has six large private bathrooms, where you can shower or take a Jacuzzi or even play with the rubber duckies dressed in dirndls and lederhosen that float in the bath. There's also a room with a Wii console and fitness and sport games to pass the time. To round out the pampering, Lufthansa provides limousine service from the lounge for passengers...
William Pope.L has crawled the 22-mile length of Broadway in New York, eaten copies of the Wall Street Journal, and tied himself with sausage links to the doors of a Chase Manhattan bank wearing only a skirt made of cash and urging passersby to pluck the bills away. Last Thursday, the Peter Ivers Visiting Artist at the Office for the Arts brought seven crying, spitting, racial slur-shouting baby heads to the Carpenter Center in “Corbu Pops,” a performance that was both humorous and disquieting.William Pope.L is a multidisciplinary artist known...
...Carmakers, including foreign nameplates such as Toyota, Nissan, Volkswagen and BMW, argue that the goals embedded in the California regulations are basically unattainable under current conditions, which include a severe shortage of cash for innovation and research. "This is the worst auto market since World War II," says Julie Becker of the Alliance For Automobile Manufacturers, representing both foreign and domestic nameplates. Adds Eric Fedewa, vice president at CSM Worldwide, a forecasting firm based in Northville, Mi.: "Our analysis suggests that allowing California and other states to regulate CO2 emissions, and thus fuel economy, will further damage companies that...