Word: fractionated
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...such expenses no longer account for much of the difference between book and tax income. Other factors—such as the peculiar accounting treatment of stock option compensation, differential treatment of overseas income, subsidiary income and pension obligations—account for large amounts and a large fraction remains unaccounted for. With the growing globalization of firms and the demographic twist we are working through continuing unabated, these wedges (and consequent discretionary opportunities) are clouding the true picture of how firms are actually performing. As such, enforcing uniformity would reduce uncertainty over what true profits are thereby furthering...
...However, these nations have received no payment on these debts for over ten years and would never have collected a penny if Saddam had remained in charge. In all likelihood they probably already assume that they will never recover more then a fraction of the current debt. Their real game is to ensure the UN as a key player in the reconstruction effort, allowing European countries to get on the gravy train for future reconstruction contracts, particularly for the development of large gas and oil projects. The U.S. Treasury Department still assumes a deal will be brokered...
...That leaves oil. Optimistically, Iraq will be able to earn $25 billion a year through oil revenues, but since the U.S. is likely to privatize the Iraqi oil industry, only a fraction of those revenues may be available for government consumption. Still, any well- planned privatization initiative would provide the government with a substantial windfall. It is conceivable that just auctioning the production rights to operating fields to international consortiums, even with a requirement that they have a substantial participation by Iraqi nationals could provide upwards of $50 billion. Morris Adelman, an MIT economist, claims that selling production rights...
...resident of Eliot, I can safely say that for a large fraction of my fellow housemates, the game of Assassins dominates all activity for one week. The paranoia, the conspiring, the mad dashes to and from the dining hall—all of it adds up to quite the sporting event...
...estimates that approximately one-third of the experimental physics at Harvard is supercool. Because of such extreme coolness (Harris’ experiment runs at .3 degrees above absolute zero), the research hinges on first-rate apparatus. About two-thirds of the equipment is made from scratch, and a substantial fraction is made in-house at the shop next door by Stanley Cotreau. Harris described Cotreau as, “one of the few people at Harvard who is the absolute master of his domain.”Cotreau has been directing the shop since 1993 and has turned it into...