Word: localized
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...just because you can afford to buy doesn't mean you will - or should. China's banks are still grappling with internal and external issues, including a shallow talent pool, a shortage of managerial expertise and a local currency that is not convertible, which makes it cumbersome to mobilize yuan assets to acquire and grow overseas businesses. Recent purchases by Chinese financial institutions have not turned out well. Insurer Ping An, which paid $3.5 billion for around 5% of Fortis, a European financial group, has decided to write off most of that investment after Fortis' share price fell...
...Biden and the business executives noted that there were limits to what the stimulus could do. Peter Harckham, a legislator from New York's Westchester County, said that money from the stimulus bill, while helpful, would leave his county about $1 billion short of its target budget for upgrading local water and sewage systems. The Vice President responded that the stimulus package was not meant to shift the burdens of local governments to the federal budget. Once the stimulus money is gone, Biden said, Westchester will...
...Robson, president of the National Association of Home Builders, volunteered that the stimulus plan has done little to stop the flood of homebuilders who have been forced out of business or had to default on loans. Those loans to builders are a big concern for local banks, and Robson worried that foreclosures on residential real estate developments would continue if no help arrives. What's more, no one is predicting that the economic stimulus will put the job market in the positive category anytime soon. The White House predicts the stimulus bill will create about 200,000 jobs a month...
...university investment management that she has come to love.Jane Lisa Mendillo was born in 1959 in New Britain, Conn. Her father served as an executive for a medical technology company while her mother stayed home to care for Mendillo and her two brothers and two sisters. She attended the local public school and was passionate about classical music—an avocation that she still pursues today—and participated in orchestra, band, choir, and school musicals.Mendillo pursued her undergraduate studies at Yale, where she dabbled in writing for the Yale Daily News and earned a degree in English...
...least, union leaders expect the University to protect “its people” by focusing on non-personnel cuts and leaving layoffs as a last resort. Local administrators are contractually required to engage the union in conversation and negotiation whenever they are considering specific layoffs. Called “consultation when considering,” the agreement gives affected staffers the opportunity to understand the reasons behind the proposed...