Word: cashed
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...stock-loan department, AIG's other disaster, took the cash it got for lending out stock owned by AIG and invested the money in esoteric securities rather than in risk-free Treasuries, the standard practice. The idea was - I'm not kidding - to make an extra one-fifth of 1% in interest. When the esoterica, which the stock-loan folks thought was riskless, crumbled, so did the firm. (See the worst business deals...
...with much of it related to properties purchased at exorbitant prices during the real estate boom that ended in 2007. Many private equity players and hedge funds used heavy leverage - borrowing up to 80% of the purchase price - to acquire the properties and are now struggling to generate the cash flow needed to service the debt and meet debt calls. Bach estimates that about $500 billion in commercial real estate debt will come due each year for the next few years...
...Indeed, some locals are happy about the army's presence - and its influx of cash into local communities. "As far as I'm concerned, it's good for the economy. You've got 1,000 people here at any one time," says Jamie Roberts, who runs the air-charter company Tropic Air and works occasionally with the army. (Read "The Talk of Kenya: What Does Obama Have Against...
...that, as expected, much still has to be done to close a remaining $110 million deficit. Still, Smith noted that FAS received about $33 million in unrestricted gifts from two anonymous donors this past year, while also making a one-time withdrawal of $20 million in cash from its endowment to help offset the increased costs of the middle-income financial aid initiative. Both funding sources represent isolated influxes into the annual budget, and will not be reported in subsequent years, meaning that the long-term deficit that Smith has emphasized in a series of faculty meetings and community gatherings...
...safe bet that the journey will court far less controversy than its Chinese predecessor did. That said, the torch itself has raised some eyebrows. Some observers say the elegantly sculpted white staff bears an unfortunate resemblance to a hand-rolled sample of British Columbia's biggest cash crop. "I'm sure the organizers didn't intend for it to look like a joint, but that's what a lot of people are seeing," Jodie Emery, the editor of Cannabis Culture magazine, told the Toronto Star. If that's the biggest complaint the Vancouver Olympics...