Word: firms
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...recent report from Goldman Sachs, the firm's research analysts calculated that the best of the banking industry's toxic assets are carried on banks' books at an average of $91 (on a bond with an original $100 price). But TIME's calculations suggest that the government-subsidized buyers would pay only $70, leaving the banks with a $21 loss on each bond sold...
Comments by JP Morgan got to the heart of the issue of why the latest figure is not a bottom. According to MarketWatch the firm said in a note, "The government's rapid easing of credit and rollout of infrastructure projects has bolstered FAI, helping offset decreased investment by export manufacturers and property developers." The US faces the same problem with its stimulus package. If it does not catch hold quickly unemployment, falling housing prices, and lack of access to credit will overwhelm the money being pushed into the economy by the Administration. (See pictures of China's electronic waste...
...clunkers plan, analysts say that European car sales are now running at more than 13 million vehicles a year, up from an 11 million pace at the start of the year. "It has been pretty successful so far in Germany," says John Wolkonowicz, senior automotive analyst for the research firm IHS Global Insight...
...bills. Violent crime may not be up, but fear of it is: 40% of people say that since the downturn began, they are more worried about their personal safety. Gun sales at large retail stores have jumped 39% this year, according to the SportsOneSource, a research firm that tracks the sporting-goods industry, and shops are reporting ammunition shortages; they can't keep up with demand...
...decade-long business career, Ireland's Declan Ganley, 40, has launched a telecoms firm, a timber trading company, a cable television operator, an online jewelry retailer and a finance house. But it is his latest venture that could end up having the biggest impact. In 2006 Ganley founded Libertas, a think tank that concentrated its scorn on the European Union. At the end of 2008 it became an E.U.-wide political party with the express aim of overhauling the institution it so often criticizes. "We are saddled with a tyranny of mediocrity," Ganley says. "It boggles the mind. Almost...