Word: creditably
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While folks financing a house or carrying loads of credit-card debt are mourning the end of the lowest interest rates in 46 years, savers who have been stressing over paltry yields on cash investments are partying in response to the Fed's quarter-point interest-rate hike last month. The federal-funds rate now stands at 1.25%, but the really good news for yield-hungry investors is that the bump may be just the beginning of a slow and steady climb that could leave us at 2% by the end of the year...
When people talk about Jefferson's accomplishments, credit must also be given to the black slaves at Monticello, as their combined efforts gave Jefferson the time to do all that he did. WILLIAM DODD BROWN Chicago...
...people with strong regulatory sensibilities," says Susan Kurz Snyder of Greene-Levin-Snyder Legal Search Group, an executive-recruitment firm. In the past year, Eric Dinallo from New York attorney general Eliot Spitzer's office and the SEC's Patrick Patalino have switched over to Morgan Stanley and Credit Suisse First Boston, respectively. The latest defector: Beth L. Golden, Spitzer's former deputy of special projects, who becomes the global head of compliance at the Bear Stearns Cos. next month. Bear Stearns has received requests for information and subpoenas from many federal and state agencies, including Spitzer's office, regarding...
...Cola and PepsiCo. Earlier this year, Splenda was okayed for sale in the European Union. Tate is spending $30 million to expand its sole Splenda plant, in Alabama. The potential catch: many Splenda users are converting from real sugar--Tate's main business. Says Charlie Mills, an analyst at Credit Suisse First Boston in London: "People are forgetting how much of Tate's other business can be threatened by this." --By Barbara Kiviat...
...help that LG Electronics is a member of one of South Korea's mammoth, family-controlled conglomerates, called chaebols, which are infamous for mysterious and convoluted business practices. In February the company broke a promise to investors by pledging $130 million to buy bonds of a nearly bankrupt affiliate, credit-card issuer LG Card. Kim says his company joined in because a failure at LG Card would have damaged LG's image. Michael Lee, an executive vice president at LG Corp., the conglomerate's holding company, says affiliates had a "moral obligation" to help out and calls the LG Card...