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...July 15, one of the nation's largest lenders to small businesses, CIT, said the government was unlikely to save it from bankruptcy. The company could still find a private investor to swoop in and rescue the firm. By some estimates, CIT has to find as much as $6 billion in new capital - and fast - to keep the lights on, and in this economy, most investors are betting that's not likely. CIT shares have fallen 90% this year, and traded around 40 cents on Thursday. A bankruptcy, some say, could come before the weekend. And that has many people...
...high risk." An additional 60 F-22s, the general said, would ease that risk to a moderate level. Gates was not amused. "Frankly, to be blunt about it," he said, "the notion that not buying 60 more F-22s imperils the national security of the United States, I find completely nonsense...
...Agassi. It's interesting to watch how Tom Casten and his son Sean, who run Recycled Energy Development, can get almost frustrated when they explain how much energy we leave on the table in just about everything we do. They can walk into a steel plant and immediately find 50 megawatts worth of wasted juice and design ways for it to be captured. There aren't many people who can do what the Castens do. As the price of gas goes up and our energy crunch becomes more acute, however, more companies like RED will surely...
...travelers are stocked with provisions (Tiger beer, baby diapers) you can't find at longhouses like Long Dungan, where 35-year-old Web designer Calvin Jemarang takes me to meet his spry 83-year-old uncle Kojan Kabeng, a sculptor and blowpiper, one of the last of a dying breed. Kojan's kitchen lintel is decorated with a radiant succubus motif, and when I ask the legend behind it - in which a hunter is seduced and eaten by a beautiful spirit - Calvin perks up; he has never heard it either. Later, at a nearby Sekapan longhouse, 35-year-old Stephen...
...Some smaller commercial banks have started experimenting with lending to small businesses, says Du. Other initiatives include websites that provide a sort of online credit market, where parties looking to make or take out loans can post terms and find deals online. But so far the volume is low and the terms are prohibitive. "There are many more approaches we have yet to explore, and we shouldn't be limited to one single model," Du says...