Word: flippings
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...euro and yen are this year's dollar, what's on the flip side of the smart carry trade for 2010? Last year the Brazilian real was a currency on fire, appreciating 35% on interest rates that started 2009 at an unsustainable 13.75%. It was a situation that threatened to suffocate the economy, forcing the government to intervene in currency markets, cut interest rates nearly 40% and impose new taxes on foreign investment. (See pictures of the global financial crisis...
Meanwhile, one possible buyer lurks on the sidelines: Warner Music, the third largest record company in the world. CEO Edgar Bronfman has long coveted EMI, but mutual intransigence has thus far prevented a merger. Some Terra Firma officials fear that Citigroup simply wants to "flip" EMI by making a quick sale to Warner - a plan Citigroup denies. In its present state, however, EMI's future as an independent company is far from certain. "The trouble is that the future of EMI would look quite good if it wasn't for all the debt," Dyson says. "But it doesn't look...
Back before protests erupted last June, if you were to see a crowd gathered on the streets in Tehran, odds were that people were buying up the latest U.S. hit movie or television show from a black-market vendor. Customers flip through piles of plastic sleeves, looking for an unseen classic or the latest that the Americans have to offer: Avatar, District 9, Invictus, the second Night at the Museum, the first Godfather. One can find Desperate Housewives and 24. At about one toman each (approximately $1), the DVDs are affordable as an occasional indulgence for most residents...
...Skype requires me to look at you while you're talking, which is totally ridiculous. The only sci-fi show that understood this was Star Trek. Bones and Jim would use their flip phones to talk quickly about beaming or health issues. The only time they'd fire up the videophone was when a Klingon was sitting in a spaceship 20 yards away with guns pointed at them. Even then I think Sulu was checking out Go Fug Yourself. (See the top 10 gadgets...
...shivering girl in a red sweatshirt and flip-flops stood alone at the corner of the hotel. She said she was 15 and desperately needed help. I asked Lombard's volunteer to translate from Xhosa. Shockingly, this was Elizabeth - Sindiswa's best friend - still controlled by Jude. Having researched modern-day slavery for eight years, I knew how difficult it was for survivors to heal after emancipation. In this case, mere emancipation would be a dangerous procedure...