Word: cashes
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...Steel, is the biggest employer in the area, with 50,000 workers. It's an exporter in its own right: UPMC runs hospitals in Ireland, Italy and Qatar. It exports knowledge, not metal. UPMC's operating revenue has been growing at 12% annually for the past five years, generating cash-flow earnings in excess of $500 million annually and enabling UPMC to reinvest a like amount. "We believed, even before this dramatic recession, that UPMC could not continue to support its growth living off Medicare and insurance revenues," he says...
...Saudi Arabia committed $500 million to enroll 24 million children in primary school. The U.S. only pledged a paltry $61 million over five years, despite the fact that the interconnectedness and global character of all the present crises is becoming painfully apparent. Irony is everywhere. If you think the cash for a $700 billion dollar bailout is coming from taxpayers during an election year, think again: It’s coming from Beijing’s stockpiled reserves...
...money simply to be able to pay their teachers and firefighters. While all states have to deal with an uneven influx of revenue from tax collection, California is among the very few that deal with temporary shortfalls by issuing short-term debt. Most states instead rely on internal cash management - in some cases, borrowing from their own pension funds if necessary - which means they aren't dependent on outside borrowing in order to make payroll and keep the lights on. And even those municipalities that do use short-term notes may succeed in selling them...
...distribute the proceeds in an orderly manner. The same thing happened to another 200 schools with $1 billion in an intermediate-term fund. Given that the schools will get about half of their money by the end of this year and the rest by 2011, there's a severe cash crunch for many small schools, some of which had up to half their liquid assets in the short-term fund...
...government directly invest taxpayer money into private financial firms. "The authorities must do anything they can," Kanno says. "If the banks are in trouble, they can be nationalized and the government can protect the whole system." Yesterday, Britain pledged hundreds of billions of dollars in credits, guarantees and cash to shore up its banking system. The package included partial nationalization of some of the country's major banks...