Word: creditably
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Captioning the Action I was shocked to read in "The Best Inventions of the Year" that you gave credit to a foreign university for a wireless captioning-subtitling glasses prototype without acknowledging innovators here in the U.S. who have been working on this technology for almost a decade [Nov. 19]. The Georgia Tech Research Institute is already in the final stages of commercial development of a wireless captioning-subtitling system in collaboration with a licensee and leaders in the movie industry. TIME's failure to recognize long-standing innovators in this area and inability to perform due diligence are very...
...banks and other financial-services companies starved for cash by the subprime-credit crises, where they obtain bailout money is less important than the fact that it's available at all. Just ask investors in Citigroup or UBS. The big Swiss bank had to take a $10 billion write-down--it had already taken a $4.4 billion hit--on the value of its "super-senior" subprime portfolio, those formerly top-rated bonds. To restore its capital base, UBS sold $8.9 billion in convertible notes to the Government of Singapore Investment Corp. (GIC) and an additional $1.8 billion...
...reason for that is clear enough. At a time of extreme stress in global-equity and credit markets, many governments have surplus foreign exchange to play with--and because of the falling U.S. dollar, they are increasingly interested in investing their cash where it can earn greater returns than it would from U.S. Treasury debt, the traditional haven. The largest SWFs--the so-called Super Seven, comprising China, Russia, Abu Dhabi, Kuwait, Norway and two Singapore funds--control up to $1.8 trillion. By 2011, assets held by SWFs worldwide are projected to grow almost fourfold, to nearly $8 trillion...
...surge in foreign investment and anxiety over the subprime-mortgage meltdown, the loonie broke the $1.10 barrier in early November. It has since settled close to parity. "The U.S. dollar is going to stay weak against major currencies for a while," says Dan Katzive, director of currency strategy at Credit Suisse in New York City...
...more bad news ahead for Canadian pigs and good news for American lettuce. Still, despite the ups and downs the dollar brought in 2007, Canada's economy barely wavered. Along with the loonie, output, employment and Canadians' deservedly inflated pride all flew steadily in the face of a global credit crisis. In fact, the most remarkable thing about the loonie's ascent may be how handily Canadians handled it - notwithstanding the odd hurled book. Just imagine if in 2002 someone had prophesied today's exchange rates. "I think we [all] would have concluded that the Canadian economy would be decimated...