Word: idea
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...September, the mall lost its funding source, couldn't pay operating expenses and was forced to liquidate. Tenants must be out within days. They have been told they will not be getting their deposits back. Kamoshida can't get over the feeling of being utterly blindsided. "I had no idea that Lehman Brothers had anything to do with it," he says. "When I heard that Lehman collapsed, I thought that it was somebody else's problem in a faraway place. But in the end I had everything to worry about, didn...
...idea behind the Macquarie model is to borrow a lot of money cheaply, buy infrastructure assets with a guaranteed cash flow, then sell those assets to the public, letting shareholders take over the debt. Macquarie and imitators like Australia's Babcock & Brown make money at every step, with fees for the deal, for advice, and for managing the assets. Macquarie runs toll roads in America, bridges in Portugal, French autoroutes, a tunnel in Germany, and airports from Sydney to Copenhagen. About 290 million people ride its buses each year, and 17 million light...
...wave of retirements. What makes the turnabout more striking is that the Democratic challengers aren't particularly strong candidates. Several are inexperienced; others are more liberal than their states. Many seemed almost struck dumb when, as gasoline prices soared this summer, Republicans hit on the suddenly popular idea of drilling for more oil. But the market meltdown has replaced $4-per-gal. gas as voters' top concern, and ever since Herbert Hoover, voters have looked to Democrats in economic hard times. "We're not catching a break," laments Nevada Senator John Ensign, Schumer's GOP counterpart who runs the National...
...intended to offer taxpayers breaks on deferred income. In 1980, while trying to streamline a client's profit-sharing plan, benefits consultant Ted Benna realized that the code could be used to create an easy, tax-friendly vehicle for employees to save for retirement. The client passed, but the idea took off: there are now more than 65 million 401(k) accounts, which allow participants to invest in stocks and bonds, often with matching funds from employers--all at a lower cost than the pension plans that 401(k)s replaced. The accounts helped spark a financial-industry boom, funneling...
...horrific years of meth addiction. ("Very awful stuff, very hard to get over," she says.) Jennifer, a single mother, will graduate next June, and plans to study psychology at Montana State University in Billings and then "come back and help." Chief Dull Knife College, she says, "turned around my idea that I couldn't make something of myself or give my kids a better life. I'm still surprised. I never thought I'd be here...