Word: dollarized
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Dates: during 2000-2009
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Harvard will likely wait until a permanent president takes office before launching its multi-billion-dollar capital campaign, the University’s fundraising chief said...
Administrators have yet to announce the total dollar figure they seek to raise, though they expect it will exceed the last campaign, which ended in 1999 and yielded $2.6 billion. A similar seven-year campaign launched today would reap at least $4.2 billion, based on a higher-education inflation rate of 3.5 percent...
...hurting workers, they are devastating a number of industries, most notably the airlines. Already buffeted by bankruptcies and labor disputes, the major carriers had made steady progress in shedding excess capacity and lowering labor costs. As a result, jets are fuller. But the till is still empty. Every dollar increase in the price of a barrel of oil translates into a $365 million immediate increase in fuel costs for the 11 major airlines. Even hyperefficient JetBlue has gone into the red. "High oil prices and continued losses will probably be a slow grind to liquidation for some airlines," says Vaughn...
Economists are worried that companies are reaching the limit of being able to transfer energy-price increases to their customers in the form of surcharges. FedEx just raised its fuel surcharge on air deliveries from 12% to 13.5%. Even local pizza parlors, which have been adding a dollar or two to the bill, will reach the push-back point if the upward trend continues. "The pain at the pump this summer is going to be on truckers, taxi drivers, limo drivers, airlines, shipping companies. The question is, Do they pass it on?" says Joe Stanislaw, an independent energy adviser...
Gold is also a traditional safe haven from a weak dollar, which many (including Warren Buffett) are betting on. Dollar pessimists point to the massive U.S. budget deficit, which if uncorrected should weaken the buck over time. With that in mind, insurers and pension funds have begun allocating 2% to 5% of their portfolios to precious metals and other commodities...