Word: funding
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...approach. The shift comes after a raft of bad economic news, with the government now pressing ahead on a number of fronts. Merkel's coalition nearly doubled its stimulus package to €50 billion this week and is drafting plans for a €100 billion Germany Fund to provide credit for midsize businesses. And Commerzbank, Germany's second biggest bank, has said it is to be partly nationalized. The German government's bank-rescue fund, the Financial Markets Stabilization Fund (SoFFin), will provide €10 billion in fresh cash to Commerzbank in exchange for a 25% stake plus one share...
...support small businesses, many of which are family-owned, have little access to capital markets and are getting squeezed by the credit crunch. Ronald Pofalla, the general secretary of Merkel's Christian Democratic Union (CDU), says, "We think that now is the right time to consider creating a Germany Fund, especially to help midsize industry in this difficult period and ensure optimal availability of financing...
...Robert Chew is a former investor with Madoff via a feeder fund. He lives in Colorado...
...Postal Service's fleet - which is 220,000 vehicles strong - through the roof. (Marking one financial bright spot, those surges have since subsided.) And perhaps most biting of all are the multiple billions of dollars the agency has had to dole out annually to a prepaid retiree health-benefit fund, which was created by the Postal Act of 2006. The overall picture isn't pretty. "We actually reached that tipping point, where -" says spokesman Greg Frey, before cutting himself off to be more blunt: "Last year was a bad year...
With the national unemployment rate nearing 7 percent—a figure not seen in the U.S. since 1993—several states have seen their unemployment insurance trust funds shrink to dangerously low levels, with some states already taking out federal loans to pay unemployment benefits. But Massachusetts’ unemployment benefit system remains “strong and solvent” for the foreseeable future, bolstered by over $1 billion in trust fund reserves, according to Robb Smith, director of Policy and Planning for the Mass. Labor and Workforce Development Office. From January through November 2008, the state...