Word: formulaic
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...Congressional Research Service (CRS), in a report released last Friday and obtained by TIME, has concluded that the new formula does not live up to its billing. A close look at the math shows that rural, less-populated states like Alaska and Wyoming may still end up with a disproportionate share of the total money...
...could this happen? It all comes down to the magic of fractions. Under the old formula, every state was guaranteed at least .75% of the state-grant program - a very high minimum compared to other federal programs, which made sure that even less populous states with a relatively small risk of terrorism received a sizable chunk of cash. Since 9/11, billions of dollars in homeland-security grants have gone out under this bizarre and nonsensical formula, which TIME investigated in-depth in 2004. In the new law, however, Congress cut the minimum to .375%, and set the percentage to decline...
...Cutting the minimum in half, from .75% to .375%, sounds like real progress, right? But it turns out that, while the new formula reduces the percentage, it starts with a much bigger pool. The minimum percentage, as written into the law, is now a percentage of state grants plus something called the Urban-Area Security Initiative, a separate program dedicated to high-risk cities. That program accounted for $747 million in 2007. So the impact of the lower percentage is undercut by the use of a much bigger denominator, notes the report, authored by CRS employees Shawn Reese and Steven...
...years after Hermann declared to the trade press that she relished the "challenge" of running a wounded YSL, it remains unclear whether she and Pilati have the magic formula to modernize the fashion house and elevate it to its former glory alongside idolized French brands like Chanel, now a multibillion-euro business. The ascension to such heights is a complex mission. It takes believing that Pilati has the talent and range to give women what they need and think they want and that Hermann has the gift to translate his talent into commercial success...
...fact, Switzerland has a long tradition of opening its borders to immigrants and refugees, and some 22% of the population are now foreign-born, including such celebrities as Formula 1 racing driver Michael Schumacher, singers Shania Twain, Tina Turner and Phil Collins, and many others. But the influx of newcomers from Eastern Europe and Africa, many of whom the SVP charges are engaged in drug dealing and other criminal activities, has stoked widespread fears of a way of life under threat...