Word: crediteers
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Detroit's struggling and battered automakers are mounting an ambitious push this week for up to $50 million worth of federal loans, which are much less expensive than private credit. They are eager to have necessary legislation in place by the time Congress adjourns before the election. As recently as last winter, loan guarantees for carmakers had seemed like a piece of the Motor City's past (President Carter signed off on the Chrysler loan guarantees in 1980). But a combination of the economic slowdown and Presidential campaign politics, as well as the precedent of the federal bailout of Wall...
...would have "extreme difficulty paying its obligations" after a 100-year storm, and that premiums on nearly every property, car and business could skyrocket. A report for the state Office of Insurance Regulation found that even a 50-year storm would cause extreme financial stress, especially given the current credit crunch...
...competitors by coming up with an unusual arrangement to ensure a steady flow of big fish. Macau casinos attract most of their wealthy clientele by working with junket operators, companies that function like specialized travel agencies. By maintaining close ties to high-end gamblers and often providing them with credit to bet, junket operators funnel traffic to the casinos, which pay them commissions. Macau has scores of independent junket operators, making business unpredictable. Ho figured out a way to get a core group of operators to act as consistent suppliers. In December 2007, he formed a partnership with an affiliate...
...mass-market gamblers with Adelson's Venetian, situated right across the street. Adelson, too, is bringing even more options to Cotai, including a Four Seasons hotel, which opened in late August. "In the beginning, [City of Dreams] may have a tough time," says Gabriel Chan, a gaming analyst at Credit Suisse in Hong Kong. Ho, though, says he isn't worried. "Unlike some of our competitors who have cookie-cutter projects from the U.S., my vision has always been to create unique 'Wow' experiences," he says. The hockey player could yet keep the big boys in check...
...polloi bankroll upstart fashion designers. British documentary filmmaker Franny Armstrong raised more than £450,000 ($815,000) to finance--and work full time on--The Age of Stupid, which she hopes will premiere at the Sundance Film Festival in January. People who gave 20 quid ($35) got a credit on the film's website; those who gave £5,000 ($9,000) and up will get a percentage of the profits, if there...