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Greek Prime Minister George Papandreou has put tax reform at the heart of his austerity plan, and says his government is serious about fixing the roots of his country's current economic predicament. He says Greece will tackle its deficit without the deep government-wage or job cuts that other heavily indebted European countries, like Ireland, Spain and Portugal, have recently announced. Instead, Athens will pursue tax evaders. "Greece's problems," Papandreou told journalists at a press conference marking his first 100 days in office, "are due to waste, corruption and lack of respect towards...
Most Greeks agree that the tax system (see following story) and the bloated public sector, nicknamed "the country's sickest patient," are at the root of Greece's current problems. In a country of 11 million people, almost 850,000 workers are employed by the state, which means they receive 14 monthly paychecks instead of 12. Many enjoy a work day that runs from 7:30 a.m. to 2:30 p.m. "The state must change the mentality of the public employee," says one investor and economist, Timos Mellisaris, who calls Greece's public sector "the last communist frontier." Greeks like...
...million, according to Box Office Mojo. Percy Jackson held second with $38.8 million; The Wolfman was third with $36.5 million. Avatar held strong in fourth, slipping only 2% from last weekend for $30 million. The James Cameron eco-epic has now earned $667.6 million, the all-time leader in current dollars and, in real dollars, is now 17th on the all-time list, between two Steven Spielberg adventures: Raiders of the Lost Ark and Jurassic Park...
...region," says Gabriel Chan, head of Asian gaming research for Credit Suisse, who points out that an average casino in Macau costs roughly half as much. The Venetian in Las Vegas, completed by Adelson more than a decade ago, cost roughly $1.5 billion - less than a third of his current Singapore project...
...that likely? No, Noel-Johnson says, even though such robust expectations are clearly reflected in the high price of Genting Singapore's stock, currently the most expensive gaming stock in the world. According to Noel-Johnson, Genting Singapore is trading at an estimated price-to-earnings ratio of over 60 for the current fiscal year. Even though he believes Resorts World Sentosa has the potential to be "a long-term success," Citigroup has slapped a "sell" rating on the stock...