Word: inflationitis
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“The cost was $10 million, and today it’d be about $35 million, and we got it done before there was major, major inflation,” he says. “We considered just ripping it down and having up-steel stands, but by...
Even among the successful Baltic economies, some storm clouds are brewing. High growth rates have triggered fears of overheating, especially in the new democracies. Latvia's President Vaira Vike-Freiberga recently complained that Swedish banks are too generous with their loans, tempting Latvian consumers to load up on debt, and...
Today, though, prices at the pump in the U.S., adjusted for inflation, are approaching those record 1981 levels for the first time. The company now called ExxonMobil turned a profit of $39.5 billion last year (on sales of $365.4 billion), more than any other corporation ever. Yet it isn't...
Last year ExxonMobil spent $19.9 billion looking for oil and improving its refinery, pipeline and pumping capacity. The company predicts that its capital and exploration spending will average more than $20 billion a year for the next five years. That's not spare change, but adjusted for inflation, it's...
I’ve got an embarrassing secret for you. Now I’ve got a lot of things in my life that I’m not proud of. For instance, I am 21 years old and I am still not allowed to use the oven without supervision...