Word: dollars
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Dates: during 2000-2009
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Everywhere you turn these days, there's cause for panic. The news is filled with talk of a global credit crisis. American homeowners are defaulting on their loans and housing-related stocks have crashed. The dollar is doing a disappearing act. Alan Greenspan, after years of artful obfuscation, has suddenly discovered a terrifying gift for clarity, warning that inflation will rise and house prices will tumble. Stock market volatility has surged. And now, feeding fears that the contagion is spreading, the British bank Northern Rock has suffered a near-death experience...
...that governs such trusts, would create an independent body, run by the UAW, with the sole responsibility of paying for the health care of GM's retirees and their spouses. It won't come cheap. Analysts estimate that GM could end up paying 60 to 70 cents on the dollar of its $50 billion obligation to establish the trust. But investors have been pushing for a VEBA since Goodyear set up a similar plan with the United Steelworkers last year. Wall Street, after all, hates uncertainty and loves cash flow, and a VEBA would once and for all limit...
Earlier this year the U.S. Mint issued a silver dollar commemorating the event, and throughout the anniversary's week there will be other observations marking this turning point in U.S. history. But the joy will be somewhat muted, for American schools are still nearly as segregated as they were 50 years ago. Almost three-quarters of African-American students are currently in schools that are more than 50% black and Latino, while the average white student goes to a school that is 80% white, according to a 2001 study by the National Center for Education Statistics. Similarly, a 2003 study...
...laughs at the memory now, but those cramped quarters served as the unlikely launching pad for the investment bank's billion-dollar bet on India. Entwistle's version of sightseeing in Mumbai (formerly Bombay) is a tour of the old Goldman outposts in India's financial hub. First stop, suite 1034 at the Hilton--down the hall from a group of Thai masseuses and rotating airline crews--where Goldman set up shop in late 2005, with Entwistle as employee No. 1. Next, a second temporary home in a worn-down office building abutting a sprawling slum. When rains flooded...
...nearly 2 million. Unemployment stands at roughly 14%. About 47% of the city's residents over age 16 are functionally illiterate. Yet, for much of Kilpatrick's tenure, parts of Detroit have experienced an economic turnaround similar to those that have taken place in Chicago and Washington. Million-dollar lofts are being built along the Detroit River. Homicides are down by 17%, and non-fatal shootings have dropped by 9% in the last year. Kilpatrick sliced the city government's job rolls from about 21,000 to 13,800. He cut property taxes partly to retain what remains...