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...what's the harm in a little sponsorship? The ambitions behind a firm's marketing may offer a clue. "A lot of companies interested in sponsorship would be companies targeting very high rates of growth," says Stefan Szymanski, a sports business economist at Cass Business School in London. "To target a very high rate of growth is often a high risk strategy. High-risk businesses, in recession, tend to go bust." (The reverse can also be true: the stock price of sponsors of U.S. sports stadiums actually outperformed the market in the more benign conditions...
...even with infrastructure improvements, the shift to electric cars is likely to take years, even decades. According to Alan Madian, a director at the research firm LECG, even assuming solid growth, we can't expect more than 68 million plug-in hybrids by 2036, which would account for less than 17% of the total estimated fleet at that time. Given that the U.S. car fleet is likely to have grown to over 400 million vehicles by then, we may still end up using more oil in the future than we do today in a business as usual scenario. That...
...still in business, and rushing to save itself. The game right now, in the wake of downgrades from credit-rating agencies, is raising tens of billions of dollars in fresh capital, an effort that was bolstered on Monday when the State of New York said it would let the firm use as much as $20 billion in capital from its subsidiary companies to cover its day-to-day operating needs. But if the company doesn't gain access to much more - it could need to raise as much as $75 billion - quickly, it might be next in line for bankruptcy...
...worse comes to worse, the goal of regulators is going to be to move AIG policies to other insurance companies. That's worked in the past, but it's never been attempted with a firm of AIG's size...
...outsiders - and even insiders - to understand the gravity of the company's problems. "You can read through every financial statement in the world and have absolutely no clue as to the risks they are taking," says Leo Tilman, a former Bear Stearns strategist who now runs the advisory firm L.M. Tilman...