Word: crunching
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Dates: during 2000-2009
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...materials. In the case of oil, supplies have been reduced by OPEC cutbacks. And commodities traders are bidding up market prices in general on expectations that supply shortages will return with just a modest improvement in demand. That's because miners, farmers and oil drillers, hit by the credit crunch, can't finance investments that would increase their production capacity. Many won't invest today even if they have access to financing because depressed prices make projects uneconomic. The amount of investment in the oil sector, for example, will likely be 30% lower in 2009 and at least 40% less...
...Sins of the Father The Maldives' coffers, though, are perilously low. In part that is a consequence of the global downturn, which has hit international tourism hard. The crunch was exacerbated by profligate spending in the final years of the Gayoom regime, as it sought to cement votes with new infrastructure projects. In February, Nasheed's government moved to auction off some of the former ruler's more extravagant state possessions, including a personal yacht, a private pleasure island and a gold-plated toilet...
...Haven, Conn., at night after a total of an hour and a half of flight training. Buckley also smoked, drank, ate peanut-butter-and-bacon sandwiches and took pills by the fistful. He was a reckless sailor who crossed three oceans--his terrified crews nicknamed him Captain Crunch. He abominated seat belts, and in his later life he developed the unnerving habit of urinating out the open doors of cars going at full speed. Buckley, an icon of the modern conservative movement, died last year at 82 from a heart attack. It's amazing that he lasted as long...
...with the work taken up by the divisional deans themselves. And, if the divisional deans—all of whom are tenured professors—are receiving any significant remuneration from University Hall, they should consider returning these supplementary salaries for the duration of the fiscal crunch...
...issuers free up more credit for more people, they argue; folks with lower prospects for repayment pay higher interest rates, while good, creditworthy customers don't have to pay as much. Plus, they say, now is exactly the wrong time to relegislate the lending process. Owing to the credit crunch and soaring default rates, card issuers are already reeling in credit limits and accepting fewer new applications. "There are two ways of managing risk - for a particular borrower and across a portfolio," Ken Clayton of the American Bankers Association recently explained. "If risk-based pricing changes, lenders will have...