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...interest rates on its debt. But instead of rising, the report said rates fell “rapidly,” forcing Harvard to meet large collateral requirements.The report added that since the decline came in the fair value of the portfolio, or the amount that Harvard would gain by terminating the swaps (or lose, in the case of a negative value), the liquidity drain could be reversed if rates rise again in the future. As of October, the University would have had to pay $571 million to terminate its interest rate swap portfolio, according to a December report from...

Author: By Peter F. Zhu, CRIMSON STAFF WRITER | Title: Capital Spending May Be Slashed | 4/3/2009 | See Source »

...year until 2014. The task force noted that GM has been losing market share at a rate of 0.7% per year for the past 30 years - and GM was planning to drop brands and nameplates. The task force had no reason to think that GM could gain share, and its sales rate proved that point. Industry-wide, March auto sales were down 40% on a seasonally adjusted basis. GM's factory-utilization rate is less than 60%. That's abysmal - the rate needs to be in the 80s for the company to be successful - and it's one reason...

Author: /time Magazine | Title: Can Detroit Be Retooled — Before It's Too Late? | 4/2/2009 | See Source »

...whole. With more than 8.2 million people calling New York home, surpassing a historical high set in the 1950s, the city's infrastructure - its crowded subways, traffic-choked streets, aging water mains - is being pushed past its limits. City planners realize that New York is on track to gain an additional 900,000 people by 2030. If that growth isn't managed properly, the result will be an environmental and economic mess. "New York is growing, and we have to think more effectively," says Rohit Agarwalla, director of the city's Office of Long-Term Planning and Sustainability...

Author: /time Magazine | Title: The Big (Green) Apple | 4/2/2009 | See Source »

OpenSkies is named after the deregulatory policy that frees airlines to add new city-to-city routes beyond their once protected home turf. OpenSkies chose Amsterdam and bought another business-class fledgling, L'Avion, to gain access to Paris and slots at Orly and share costs and culture. BA doesn't fly to those places from New York City, and it sure as heck isn't going to undercut its own lucrative business-class traffic to London...

Author: /time Magazine | Title: Open Skies Tries to Get Lift | 4/2/2009 | See Source »

...books is also exquisite, with the Loeb Greek and Latin classics in one room, more exotic Chinese history in another, and historical theory on the third floor. Indeed, the Hicks House Library is a microcosm of Harvard itself: intellectual, studious, and exclusive—but not impossible to gain access...

Author: By Bonnie J. Kavoussi | Title: Harvard's Finest House Libraries | 4/2/2009 | See Source »

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