Word: dollarization
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...misconception is that every dollar a fan spends in a host city directly benefits the city. Some of the money coming into Detroit will leave it just as quickly. Take hotels, for example. The Marriott and Sheraton may be full, but a chunk of that revenue flows to corporate headquarters outside of the city. The same holds for national restaurant chains like McDonald's. And the NCAA takes about 65% of the revenues from game tickets...
...Realtor dad. He watched the market go mad and had his revelation: now is the moment to get back in - and stake your claim. At 41, he did not expect to be driving around Cape Coral in an old church bus that he bought off Craigslist, painted dollar green and emblazoned with the motto "ForeclosureToursRUs.com." But most people had no idea how to buy a house from a bank, and many were too scared to try, so he decided to lead tours of the new economic frontier. He is a revivalist for this apocalyptic age, living an American story...
...punished, the new prospectors say. But maybe this is just how the life cycle has to work to restore balance to the world. Painted on the side of the green bus is a house being sprinkled with a watering can ("Watch your investment grow!") and a tree with dollar bills hanging on it. Anything can grow here in all this hope and sunshine, if you bury your fear deep enough...
...state of good repair (a visit to any subway station will indicate they're not there yet), the city doesn't have the power to enforce it. Similarly, the plan pushes new projects like the long-awaited Second Avenue subway line on Manhattan's far East Side. Those multibillion-dollar improvements were to be paid for in part by implementing congestion pricing in Manhattan - charging drivers to enter the most crowded part of the city. As an added benefit, congestion pricing would have helped unclog New York's sclerotic traffic, which now costs the city $13 billion a year...
...School classmates. Wagoner, who graduated from the Business School in 1977, stepped down on Monday at the request of the Obama administration, which has sought to force more rapid changes within the three beleaguered American automobile manufacturers that have received assistance from the administration’s multi-billion dollar bailout fund. GM lost $30.9 billion last year, and its share price has fallen to as low as $1.27 from a high of $35 three years ago. The company has been criticized for failing to anticipate plummeting demand for gas-guzzling SUVs and neglecting to explore energy-efficient technology, causing...