Word: crunch
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...last week -for its bloated profits greased by generous tax breaks. But the players in the oil-producing world see things a little differently. OPEC officials, oil executives and oil-rich governments met Thursday in Paris at the International Oil Summit, to share their thoughts on the global energy crunch. Total chief executive Christophe de Margerie and Royal Dutch Shell's exploration chief Malcolm Brinded told officials from oil-rich countries that they needed more access to easily accessible oil deposits, rather than the hugely expensive deep-sea drilling or ultra-deep underground reserves on which they are increasingly relying...
...changing world of news and technology, even news behemoth CBS is feeling the crunch. This major media network, which The New York Times labels “the home of the most celebrated news division in broadcasting,” may potentially outsource its investigative reporting to fellow media giant CNN. This move would be a death knell to the great tradition of reporting which has led to such famous figures such as Walter Cronkite and Edward Murrow. What’s more, it is representative of an unfortunate decline in investigative reporting across all news outlets...
...countless bank runs, gave us the Securities and Exchange Commission, the Federal Deposit Insurance Corporation, and the Glass-Steagall Act separating banks from Wall Street. Now we're up to our elbows in another mess, albeit one that has yet to acquire a name for the ages. (Credit crunch? Subprime meltdown? Give me a break!) And so, as foreclosure follows reset subprime loan, talk has turned to the need for sweeping changes in how we regulate financial markets and institutions...
...facing another housing crunch, the College announced that transfer students could only live in the relatively less-crowded Quad Houses...
...transfer spots for the 2008-2009 school year, down from 75 two years prior. A month after the application deadline, bad news was sprung upon the applicants: Harvard will not be accepting any transfer students for the next two academic years, citing the extensive evaluation of the rampant housing crunch as the cause. Although the space crunch is a real and important issue, this decision is unwise, untimely, and inappropriately executed. We do not question the idea that transferring is a privilege, not a right. Princeton does not have a transfer program, and Yale admits no more than 24 applicants...