Word: dollarized
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Dates: during 2000-2009
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...Securities and Exchange Commission disclosure report released last week.Though the disclosed assets represent only a small fraction of the University’s total holdings, the report provides a glimpse of how Harvard Management Company—the group that oversees the University’s multi-billion dollar endowment—is navigating this year’s tumultuous and markedly changed financial landscape. University officials say they have been planning for a total 30 percent drop in the endowment by the end of the current fiscal year.Despite an increase in public equity holdings to almost $772 million...
McDonald's (MCD) did so well with its dollar menu that Wal-Mart (WMT) decided it will create one, too. The difference is that the Wal-Mart version will be merchandise and not food. McDonald's philosophy of selling very inexpensive food in a clean, well-lit environment served by consistently friendly people has helped it expand its operations to 36,000 stores worldwide. Wal-Mart's approach to retail stores is not terribly different. It may not be entirely coincidental that Wal-Mart was started in 1962 and McDonald's began in 1955. Millions of relatively young people, most...
...According to Reuters, "Treasurer Charles Holley said Wal-Mart has planned a number of merchandising initiatives to appeal to cash-strapped shoppers, including its dollar program." The theory behind the promotion is sound. Most stores could not bring in a lot of revenue selling items at $1 a piece, nor could most restaurants, but Wal-Mart and McDonald's have such significant scale and customer bases that getting an even slight increase in discretionary spending from tens of millions of people could make the difference between a mediocre quarter and a good...
...Charging people a dollar for a meal or for some modest item off a retail shelf may seem like a gimmick to pick up a penny a share for the next quarter. It is a good deal more than that. When a dollar is all that someone can spend, that person doesn't care if his purchase increases the company's earnings...
...malnourishment is at the state and local level. Yesterday’s Washington Post reports how widespread layoffs and curtailment of services by state and local governments are accelerating in spite of the $135 billion dollar “stabilization fund” that is being funneled to the states from the stimulus package (a fund cut by more than $40 billion to win the support of the three Republican senators who voted for cloture). The worst is yet to come. The executive director of the National Governors Association has testified that states are facing a $200 billion deficit over...