Word: lombard
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...course it is - it's like giving an alcoholic more booze," says Gabriel Stein, director of Lombard Street Research in London, noting that while the degree of debt varies by nation, it's become a troubling factor for households and companies throughout the developed world. "Banks are being told to lend money to people who have already surpassed their borrowing capacity - and being told to do so under the same terms applied during the credit boom. It's not a good idea." But so far, no one seems to have come up with a better...
...what inspired you to join the world of fashion? -Jennifer Shipton, Lombard, Ill.It was not a plan. It happened to me, in a matter of speaking. And it happened to me when I joined Parsons School of Design in 1983-as a fine artist, not as a designer. I was thrown into a world of many kinds of design, from fashion to architecture to product interiors and graphic design. I had entered Parsons in the admissions office and spent a number of years interviewing students and looking at portfolios representing all these disciplines, so I had to learn...
...hardware reasons. The older phone triangulates a user's position via cell-phone towers. The new one has a GPS receiver that can track a user in real time. Jobs showed off the GPS capabilities with a recording that showed a 3G user driving down San Francisco's winding Lombard Street. As a tiny dot appeared on a Google map and slowly wended its way down the street, the crowd roared its approval...
...Buik at London brokers BGC Partners. The list of those investors' worries is growing. Despite a $150 billion package of tax cuts and other economic stimulus unveiled by President Bush last Friday, a recession in the U.S. remains "more likely than not," says Gabriel Stein, chief international economist at Lombard Street Research in London. The reason: markets can still only guess the scale of losses incurred by banks caught up in the collapse of the U.S. subprime mortgage market. With those banks themselves still somewhat in the dark - even after writing down tens of billions of dollars linked to those...
...investment funds because of its exposure to investments linked to the subprime debacle. When the CEO doesn't know, that is the very definition of "not knowing what we don't know." "No one has a clue what they're sat on," says Gabriel Stein, chief international economist at Lombard Street Research in London. Dutch and German banks recently admitted that these bad debts had dented their earnings as well. And there's probably more bad news to come, says Stein: "It's noticeable that no British bank has said 'this is our exposure.' The idea that they...