Word: dollarized
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...says Daragh Maher, deputy head of global foreign exchange strategy at Credit Agricole in London. In some ways, that's encouraging. If a single opinion poll was able to trigger the kind of slump seen Monday - in a volatile day of trading, sterling eventually closed 1.7% down on the dollar - an actual hung parliament might be expected to cause the venerable currency to collapse. And while it's true that speculators are adding to the pressure on sterling - the value of short positions on the pound rose to more than $6 billion in the week prior to Feb. 23 - they...
...also helps explain why sterling has stabilized since the steep fall on Monday. The pound actually rose slightly against the dollar on Wednesday amid reports the Prudential deal was floundering and the release of data showing a rise in U.K. consumer confidence last month...
Public-health officials and legislators hope that reports like this one, which can put a dollar figure on the pain and suffering caused by foodborne illness, may help prompt change. Late last year, the Committee on Health, Education Labor and Pensions unanimously approved the FDA Food Safety Modernization Act, which is currently in front of the Senate. "It's our job to go to war against foodborne illness," says DeLauro. "We can't afford to wait." At $152 billion a year, the meter is running...
...budgeting strategy, known as the “first-dollar principle,” requires that departments and centers spend their restricted funds according to thus far unspecified FAS “core principles.” Since area study centers—such as the Center for European Studies—are traditionally autonomous units that depend largely on restricted endowments and donations, center administrators were concerned about losing control of their spending priorities...
Responding to each of the five center-affiliated professors who voiced concerns, Smith confirmed that the “first-dollar principle” will not enable FAS administrators to use center restricted funds outside the precepts laid out by the donor...