Word: fiscal
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...What attracted Charterhouse and its rivals was Saga's market strength in Britain's fastest-growing consumer demographic: the over-50 set. And its bet is paying off. Saga's pretax earnings in its last fiscal year were up 20% to about $259 million on revenues of $1.3 billion. Last autumn, Saga refinanced nearly $2 billion of debt at better terms, and ahead of schedule, allowing it to save $59 million a year in interest payments. Moreover, Saga's travel service recently added a third cruise ship to its fleet, and Saga Magazine now has more than 600,000 subscribers...
...Corporations have kept wages in check in part by shifting more work to part-time employees, who now constitute over 33% of Japan's workforce, up from 20% in 1992. Business leaders insist wages must be suppressed for Japanese companies to compete globally, but Katz points out that enforced fiscal austerity is toxic for the economy as a whole. "If every company cuts wages at the same time, no one is going to buy your products," he says. "That is what's happening...
...museum and robot museum testify. After racking up over $500 million in debt-roughly 14 times the city's annual tax revenue-Yubari was forced to declare bankruptcy last summer, the first Japanese municipality to do so in 14 years. Late last year the city government announced a harsh fiscal-restructuring plan that would involve raising local taxes to the maximum while cutting public services to the bone. With its crippling debt, aging population and depressed job market, Yubari has come to embody many of Japan's ills. "All the problems that Yubari faces as a city are the same...
...Cambridge Mayor Kenneth E. Reeves ’72 agreed with Harding’s assessment. “In education, if you don’t focus on a few things, you can get lost,” Reeves said. Nolan retaliated with statistics from the 2005 fiscal year that compared Cambridge school expenditures with those of two other top public school districts in Massachusetts, Brookline and Somerville. According to the statistics, Cambridge schools spent far more per student on instructional materials, professional development, and administration than the other two districts, using funds Nolan believed could be better spent...
...debate got under way, House Speaker Nancy Pelosi made clear that the resolution is just the first effort by Democrats to attach new fiscal restraints on an American military operation that is widely believed to have lost its way. "Let us be clear on one fundamental principle," Pelosi said. "We all support the troops." Then she added: "A vote of approval will set the stage for additional Iraq legislation which is set to come to the House floor...