Word: longer
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...Colonial made a lot of loans in the past few years to residential builders, particularly in Florida, many of which have now gone bad. As of the end of September, Colonial had $678 million in so-called nonperforming loans, which means the borrower is no longer paying interest. Fitch Ratings recently downgraded the bank to a credit rating of BBB-, which puts Colonial's debt just above junk. "From an overall capital perspective, they are all right, but Colonial is exposed to residential construction in problematic markets," says Fitch analyst Ken Ritz. "The risk profile of the company's loans...
...certify new coal power plants. That's because the EPA will need to reconfigure its rules on dealing with CO2, which is found in greater concentrations in coal than any other fossil fuel, that force plants in the permitting process to be reevaluated, delaying them for months or longer. "In a nutshell it sends [new plants ]back to the drawing board to address their CO2 emissions," says Bruce Nilles, director of the Sierra Club's National Clean Coal campaign. "In the short term it freezes the coal industry in its tracks." (See TIME's special report on the environment...
...Right now, however, there is no definition of BACT for CO2, and environmentalists estimate it will take six months to a year to figure that out. In the meantime, all other coal plants in the permitting process, or stuck in the courts, will be frozen. Over the longer term, it's possible that new coal plants may be impossible to certify at all until a technology exists to greatly reduce or sequester carbon emissions from coal plants - and currently none has been proven. "The decision says the EPA can't ignore CO2," says Nilles...
...Stock markets are fickle, of course, and soon they returned to their downward drift. But the impact of the stimulus will last far longer because it marks the shift of China's economy away from manufacturing and exports to other means of growth. Says Ben Simpfendorfer, a China economist with the Royal Bank of Scotland in Hong Kong: "In a decade we'll be looking back at this moment and saying, 'This was it, this was when things really changed.'" The number doesn...
First, the most extreme economic argument against temporary fiscal stimulus--that consumers and businesses would see through it and restrict spending to prepare for the tax increases or spending cuts to come--has lost almost all its adherents. Economists no longer believe humans are that farsighted...