Word: dollarization
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Dates: during 2000-2009
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...stores such as Top Shop and H&M that offer high fashion at lowly prices. And the pound's weakness may yet boost tourism among foreign visitors hoping to snap up discounted goods at beneficial exchange rates. "The pound has declined 10% against the Euro and 28% against dollar compared to last year," says Elliott Frisby of the tourist authority Visit Britain. "There's never been a better time to holiday in this country...
...says that the price tag for keeping an addict in the program and off the street - approximately $300 a week - is far lower than what taxpayers would have to shell out if he or she were on the street. A 2004 World Health Organization report concluded that for every dollar invested in the HAT program, $12 is saved on law enforcement, judicial, and health costs. While both sides debate the issue, ultimately the decision on HAT's fate is up to the voters. If they reject the law, the program's future is hazy. And that's one scenario that...
Prosperity has its favorite hobbies, its gold-trimmed roadsters and superyachts and the million-dollar platinum fishing lure studded with 100 carats of diamonds. But in an age of austerity, when we seek satisfaction on the cheap, some pursuits are all about value, but not necessarily about money. This is the beauty of the collector's world. When you don't like the look of the economy, you get to make your...
...paying students might seem counterintuitive in a time of need, but tuition accounts for just 23% of Cal State's funding (even after a 10% hike last year). That's on par with Harvard, where tuition accounts for about 20% of the school's revenue - but there, a multibillion-dollar endowment makes up the difference. On average, tuition covers about half of total educational costs at public universities. (Read about colleges getting hit by the credit crunch...
...third quarter. "In their case it might be an overexpansion problem as they got into men's and children's clothing and then made the acquisition of J.Jill, which wasn't smart," says Neil Stern, senior partner at McMillan Doolittle, a Chicago-based retail-consulting firm. That half-billion-dollar acquisition is currently up for sale, but no one is biting. Meanwhile, outdoor-apparel shop Eddie Bauer emerged from bankruptcy in June 2005 with a $450 million bank loan, which left it highly leveraged and low on cash. "While their same-store sales are down only 1.1% and they...