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...Paulson may not be remembered kindly by many who thought he told the Congress he would buy toxic assets from financial firms and then bought preferred shares in them instead. But, Paulson was in a race, which may have lasted only days if it had failed, to save the largest money center firms from collapsing...
...largest media companies are making the case that the only reason their asset values have dropped is the economy. That case may not hold...
...while Thomsen's press-release drafts were still being proofed, the SEC announced on Monday that it had reached an agreement with Madoff over a partial judgment on civil penalties related to his alleged masterminding of the now infamous $50 billion Ponzi scheme, considered the largest in history. A Ponzi is a fraud in which money from new investors is used to pay off previous investors...
...late arrival, the debut of 3G, which allows much faster data-transmission speeds and services like Web-surfing and video-streaming, promises to be quite a blowout. Government and private-sector estimates put total probable expenditure on 3G in China - whose 630 million users make up the world's largest group of mobile subscribers - at a whopping $59 billion over the next three years. That bonanza will be virtually the only bright spot in the otherwise gloomy outlook for Chinese and foreign cellular-network-equipment makers amid the global recession...
...what one department needs is not necessarily what another department needs,” Cogswell said, foreseeing a disparity of as much as 10 percent between departments. “We’re all so different.” Some surmise that the science divisions may see the largest budget reductions. “It’s the natural sciences which are going to be critical in this process because that’s where the big money is,” said Richard Tuck, chair of the social studies committee. Robert E. Holt, a laboratory administrator...