Word: cashes
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With unemployment expected to move rapidly into the double digits, I'm looking for a fallback plan - a way to generate cash fast until the new prez gets us out of this mess. So here's what I'm thinking, and please do not tell my wife: I'm turning my basement into a full-service karaoke...
...best to lower rates again, to below 1%, in the coming months as the economy weakens. Even though ultra-low rates may have little immediate economic impact, they help to stabilize the financial sector as well as stock markets. Equities become more attractive when interest earned by stashing cash in the bank is lower than the inflation rate. "While the BOJ's zero-rate policy did not work as expected in terms of reviving the economy, it contributed to preventing the financial system from collapsing," says JPMorgan's Kanno. The U.S. may soon find itself in a strange, zenlike economic...
General Motors Corp. is pressing the Bush Administration for more than $10 billion in immediate government assistance, which would help shore up its tattered balance sheet and provide the cash required for a takeover of ailing Chrysler. The two companies are already close to a deal that would put GM in control of Chrysler. That would leave Chrysler boss Robert Nardelli, brought in to save the company, out of a job. "We can acknowledge that we have been in contact with a variety of federal officials for some time during this extraordinary and difficult economic period," said GM spokesman...
...fallout from the Tim Donaghy scandal. In August of 2007, Donaghy, a veteran NBA official of 13 years, pleaded guilty to two felony charges related to gambling. He admitted to passing along inside information about referee-player relationships and the physical condition of players to gamblers in exchange for cash. He also copped to betting on basketball games himself, and was ultimately sentenced to 15 months in prison this summer...
...Cambridge as a municipality is in extraordinary good shape fiscally. We have been thoughtful about not spending down to the last dollar, so we have about $94 million in what they would call “free cash.” That puts us in a position where we don’t have to look at layoffs or cutting programs or services or increasing the tax that we levy on our residents. The presence of the universities, just in terms of the intellectual capital, the people that it brings into the city that take advantage of our goods...