Word: holdings
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...homeowners, the plan also seeks to help borrowers who have been making mortgage payments on time but can't refinance into cheaper loans because they've seen equity in their homes evaporate as prices have plummeted. The federal housing agencies Fannie Mae and Freddie Mac will refinance loans they hold or guarantee, even if borrowers owe more than their house is worth - up to 105% of the value of the property. The Administration figures that offer could reduce monthly payments for 4 million to 5 million borrowers...
...entice new home buyers into the market, since new buyers are what's needed to drive down the number of extra houses for sale. The two agencies, which financed or guaranteed nearly three-quarters of new home loans last year as private players retreated, will be allowed to hold more mortgages on their books and could eventually see additional infusions of cash from selling preferred stock to the Treasury Department - an authority granted in legislation last July. Those moves, as well as Treasury's continued purchase of Fannie and Freddie mortgage-backed securities, are designed not only to foster liquidity...
...with setbacks due to the credit crunch. In the Chinese gambling enclave of Macau, Shangri-La was scheduled to open two hotels along the city's nascent Cotai Strip this year, but casino operator Las Vegas Sands failed to raise the necessary funds and the entire project is on hold. In the U.S., a 223-room hotel in Chicago, due to open in 2011 in Waterview Tower, is also stalled due to the developer's financing difficulties...
...Jakarta Globe, revved up its printing presses last November, just as several cash-strapped American papers were readying their final editions. "The Indonesian middle class is growing, and many households subscribe to two newspapers," says Ali Basyah Suryo, strategic adviser to the start-up Globe. "People like to hold the newspaper in their hands and even clip stories or save copies. It's seen as a valuable product...
What arrives on my computer screen as the New York Times may be journalism, but it ain't a newspaper. A newspaper is what I hold in my hand as I sit back in my easy chair, coffee cup nearby, and flip back and forth, ripping out articles, snipping coupons and scissoring photos and obits for a bulging scrapbook. Handheld electronic devices that scroll text may one day make that pleasure obsolete, but they are not newspapers and will never take their place. Paul Wesel, BOSTON...