Word: dollarization
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...That seems to be the multibillion-dollar question in an ongoing court battle that pits Greenberg and his firm Starr International against his former employer AIG. The deeply troubled insurance giant claims Greenberg, through Starr International, improperly gained control of hundreds of millions of shares of AIG stock when he was booted from the company in 2005. (See 25 people to blame for the financial crisis...
Northeastern Exposure. Warming will make skiing, ice-skating and snowmobiling pastimes of the past in many areas of the Northeast, decimating the multibillion-dollar winter-sports industry. The center of maple-syrup production will shift from New England to Canada, and production of apples and other produce that depend on cooler winters will decline...
...officials for "panicking people" early on by sending out conflicting messages about buyouts. "Most of the people who lived in the flood area were people of limited means, and it opened up a terrible, terrible opportunity," says King. Many sold their houses to speculators for "10 cents on the dollar" because "there was no direction from the city council...
...almighty dollar is designed to be uncrackable. From the distinctive feel of the greenback's cotton-and-linen-blended paper to its watermarks and color-shifting ink, the Treasury Department goes to excruciating lengths to ensure no one can counterfeit the world's most powerful currency. But the U.S. Treasury Department was no match for Art Williams, one of the most inventive and prolific counterfeiters of recent decades. After learning the craft at 16 from his mother's boyfriend, Williams, the product of a tough neighborhood on Chicago's South Side, went on to print an estimated $10 million...
...Read "Soccer's Billion-Dollar Players...