Word: dollarized
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Dates: during 2000-2009
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...cakes, and pay too much for them." The auction process sweeps up some shoppers - I just want to win, darn it, no matter how much I pay for that dog food. Others figure that while they're at the grocery auction anyway, they might as well spend an extra dollar to secure that ground beef. Beats making another trip to the store...
...fact that Google's revenue grew at all is not only a sign that marketers have money. It is a sign that competitors are willing to bid against one another to get the best results. A bidding system makes the buyer take a risk that by paying top dollar he can get a reasonable return. When millions of customers are willing to participate in that system to create demand for their products, the economy may be crippled but it is not by any means dead...
...question of the week. Just a few months after the near meltdown of the financial system, Citi, JPMorgan Chase and Goldman Sachs all reported billion-dollar-plus profits for the quarter ending March 31. Wells Fargo, which won't be releasing its earnings numbers until next week, preannounced on April 9 that it made about $3 billion - a record for the firm. (See pictures of the dangers of printing money...
...same goes for the country's big banks as a group. This week's positive results, which had been anticipated by a monthlong rally in bank stocks, are certainly better than last year's multibillion-dollar losses. But bank earnings are extremely sensitive to assumptions about the future, and whether the banks are actually on the road to recovery will depend to a great extent on how the economy performs in the coming months. That said, there are a few dumbed-down lessons that can be taken from the earnings news thus...
...Bureau's piracy-reporting center, in Kuala Lumpur, Malaysia. Filipinos comprise nearly half the captives; a majority of the rest are from India, with smaller numbers from other South and Southeast Asian countries. In all these countries, sailing is seen as a tough but lucrative profession that fetches handsome dollar incomes relative to the amount of education required. Even amid the present economic gloom, officers' salaries have not plunged due to a shortage of qualified people. Indians and Filipinos are most in demand on international vessels because they speak English. But many Indian seafarers are now refusing...