Word: cashed
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...Michael Kremer, a Harvard economics professor, and Tom Wilkening, a grad student at MIT, have another idea. They published a paper last year suggesting that source countries might, in effect, "lease" their treasures to the museums of richer nations on a temporary basis while retaining title to them. The cash produced by such a scheme could be used to beef up site security...
Backed by a pristine credit rating and mountains of cash, bond insurers promise to repay principal and interest if an issuer cannot. By paying for a bond insurer's guarantee, cities and states can borrow more cheaply to build schools, bridges and roads. Here's how the bond insurers' troubles are spreading to Main Street...
...while it rewired its electronics business, Philips expanded in health care and lighting. The gradual switch to greener lighting and the rising sums being spent on health care for aging populations offered Philips the prospect of steadier growth. Flush with cash from selling unwanted units, Philips has splashed more than $7 billion on lighting and health-care companies, from Genlyte, a U.S. commercial lighting-fixtures firm it bought in November for $2.7 billion--the biggest buy it ever completed--to Lifeline, a Massachusetts-based provider of home medical-alert systems...
Vale's biggest deal came in October 2006 with its $18 billion purchase--in cash--of Inco, a Canadian firm with nickel assets across North America and as far away as the French territorial island of New Caledonia in the Pacific. The acquisition came just before nickel prices nearly tripled. Inco now accounts for about 40% of Vale's revenues, and gained the company important technology and highly skilled personnel. "It was a major step for us," says Tito Martins, executive director for corporate affairs and energy at Vale. More recently, Vale has made a play for Swiss miner Xstrata...
...deal worth $1 billion - a breakthrough that the U.S. hopes will open a floodgate of orders for its military hardware. During the Cold War, India relied on the Soviet Union for most of its arms, and Russia is still India's biggest supplier. Now U.S. companies want to cash in on closer political and strategic ties between America and India and grab a much bigger slice of India's defense spending...