Word: dollarization
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...race. "The parts we buy are in some instances half-price from last year, so your $600,000 engine program may cost $300,000 this year," says Kalik. "Same engine, same everything - just tremendously less demand. Therefore the engine builders and chassis builders are hungry for the dollar, so they'll work for less...
...future of environmentalism. The wealthy capital of the United Arab Emirates is the world's eighth biggest producer of petroleum. But the leaders of Abu Dhabi know--perhaps better than most--that the oil won't last forever, so they have embarked on the Masdar Initiative, a multibillion-dollar push to establish the emirate as a center for clean-technology development and innovation. Those plans include Masdar City, designed by British architect Norman Foster, as well as a $250 million clean-tech investment fund and an energy-engineering school linked with the Massachusetts Institute of Technology. If it all works...
...profligacy has gotten us into trouble, and so the response is ... more profligacy? There is no shortage of critics who contend that today's massive government spending is simply laying the foundation of another financial crisis, this one centering on a loss of confidence in Treasuries and the dollar...
...working with all sections of the University to make sure that layoffs are last resorts and that we save every dollar we can in ways that don’t hurt people and programs," Jaeger added. "We’re still hopeful about that...
...response to guidance from the University, several of Harvard’s schools are planning for a decline in endowment income for the next fiscal year, according to University administrators interviewed this weekend. Earlier expectations had been for a flat payout—or the same dollar amount in endowment income as last year—a School of Public Health spokesperson wrote in an e-mail. The Harvard Corporation, the University’s highest governing board, has yet to set next year’s endowment payout rate—a figure generally announced in December?...