Word: crediteers
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...which oversees the common currency in the 15-nation Euro zone, slashed its main lending rate three quarters of a percentage point to 2.5%, following two half percentage point cuts in October. Since credit markets are all but locked up in the wake of the collapse of Lehman Brothers in September, the ECB has ratcheted down its main lending rate by a total of 1.75 percentage points. (Read " Will Europe's Bank Bailout Plan Really Work...
...could also go a long way toward solving Detroit's revenue problem. Between Detroit and the transplants, there are around 17 million units of manufacturing capacity in the U.S. In 2007 vehicle sales hit 16 million, but about 2 million of those were driven by the combination of easy credit and discount pricing. In a normal economy, the true size of the business may be closer to 15 million units. The Detroit Three simply have to generate more revenue per car and, not incidentally, a profit. Right now, the revenue gap per car is $4,000 vs. Toyota...
...Iceland. Though they expect credit-crunch delays, the nation's domestic power firms are sticking with plans to nearly treble the geothermal power Iceland produces in a bid to woo companies like aluminum giant Alcoa and tech heavyweight Google. Internationally, a new crop of Icelandic investment firms have started pumping money into projects, offering partners from Djibouti to the Philippines capital, skills and - perhaps most importantly - a sense that this also-ran of renewable energy is really viable. "I think [geothermal power] is the paramount moral obligation of Iceland in the modern world," President Olafur Grimsson told TIME. "There...
Remember when going through the mail was a thrill? These days Americans get an average of 18 pieces of junk mail for every personal letter. From catalogs to credit-card solicitations, our mailboxes are increasingly clogged with clutter. Dealing with unwanted mail not only wastes our time (eight months over the average lifespan) but also bears environmental costs. Paper spam eats up an estimated 100 million trees each year, with 44% of junk mail ending up--unopened--in landfills...
...seems like a lot of green, ProQuo.com is the most comprehensive free service. Type in your name and address, and the site lets you opt out of credit-card solicitations, catalogs, Valpak coupons, sweepstakes announcements and other postal plaque. In addition to eliminating unwanted mail, the company plans to generate ad revenue by letting consumers specify the kind of offers they actually want to receive. What a novel concept...