Word: dollarization
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Dates: during 2000-2009
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...those paid in Toyota's U.S. factories. When those givebacks are added to an earlier surrender of the notorious "jobs bank" - which paid laid-off autoworkers for doing nothing - clearly the UAW's once heavenly bed has lost much of its fluff. What remains is the VEBA, the multibillion-dollar trust fund designed to protect a key element of the membership's fabled retirement benefits - which the union refers to as deferred wages. As in the Chrysler deal, the UAW agreed to trade a chunk of the cash GM owed the VEBA for 17.5% equity in the company and other...
...Christchurch's smartest places to stay, the spectacular Otahuna Lodge, www.otahuna.co.nz, is almost a reason to visit in itself. The nation's largest private historic residence was reborn as a small luxury hotel after a multimillion dollar renovation in May 2007, and today houses a superb art collection courtesy of its new American owners, Hall Cannon and Miles Refo. After a five-course degustation menu by chef Jimmy McIntyre in the clubby Victorian-era dining room, you can warm yourself by the fire (the lodge contains 14 working fireplaces) before retiring to one of seven expansive suites fashioned by Auckland...
...worse if crucial steps are not taken now. Despite what has become a public outpouring of support for the refugees, with civil-society groups, aid agencies and the local media leading a high-profile campaign to marshal resources, funds are running perilously low. Last Friday, the UNHCR raised the dollar figure required to over $500 million. Of that amount, only $88 million is in its sights. The remainder, the UNHCR says, is needed urgently "to help the most vulnerable and worst-affected people through the end of 2009." For its part, Washington has pledged $110 million - the vast bulk...
Experts across the country are exploring a range of potential solutions to the urban health crisis, including creating neighborhood gardens and courting chains like Aldi, Family Dollar and even Wal-Mart to fill the void created by food deserts. But the supermarket industry suffers from especially tight profit margins and is thus particularly risk-averse, so supermarkets' entry into low-income neighborhoods has been slow. Furthermore, many low-end chains are hardly bastions of fresh, healthy produce and meat. (Read a story about Aldi, a grocer for the recession...
...presented, the Obama budget formula is a work of art, if the goal is to slyly practice the very sort of dissembling politics that Obama ran against. The middle class is promised both a trillion-dollar avalanche of appealing new spending and, in the President's words, a "tax cut - for 95% of working families." Call it the audacity of sophistry. If, as the President claims, his election was a mandate for a larger public sector, then would not the honest and responsible move be to ask everybody to pay at least a little bit more? Is a taxpayer making...