Word: loaned
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Rusfinance and Société Générale officials say they are working the crisis to their advantage and have increased the company's share of the auto-loan market. "We see this as an opportunity," says Lyudmila Bogushevskaya, director of Rusfinance's regional network department...
Rhee asks, "what is ... so exceptional about teachers that they should have [tenure]?" How about the fact that they are there when your daughter says she wants to kill herself, when your son is being teased, when your small child forgets lunch and needs a loan. All over the country, groups of teachers worried about youngsters are talking to one another to find answers. These teachers don't go home and forget; they are devising ways to reach their students even as they cook for their families. At first I thought Rhee did not understand D.C. culture, but after...
...postpone taxes on profits earned overseas so long as those profits remain overseas, and borrowing from a foreign subsidiary has been strictly limited to 30 days or less, lest the money be seen as repatriated profits and taxed accordingly. An IRS notice in October, though, allows companies to receive loans from their overseas businesses for up to 60 days and not have to pay taxes on the profits, so long as the loan is paid back in 60 days. Pay it back in 59 days, and you can roll the loan over three times in one year, tax-free. Willens...
...public funds) and agree to tight executive compensation restrictions. In the interest of passing a bill quickly, Congress dropped many proposed provisions, such as allowing the car czar to dictate operations at the three companies and forcing the resignation of all three CEOs. "While we take no satisfaction in loaning taxpayer money to these companies, we know it must be done," Senate majority leader Harry Reid said on the Senate floor Monday. "But this is no blank check or blind hope. If the companies fail to develop a plan that will lead to long-term competitiveness and profitability, if they...
...much under the market, at some point they'll leave," says Steve Andrews, president and CEO of the Bank of Alameda. The San Francisco Bay Area bank has been forced to keep rates artificially high, Andrews says, as one flailing competitor after another - IndyMac, Washington Mutual, Downey Savings & Loan - has pushed up rates in an attempt to attract deposits and stave off insolvency. "It's frustrating riding into work and hearing about [deposit rates] at 4%," says Andrews. "That's prime rate - there is no margin...