Word: million
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Dates: during 2000-2009
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Many of the nation's largest lenders, including Citigroup and JPMorgan Chase, have meager interest in converting homes into rentals. "We're in the lending business," says Chase spokesman Tom Kelly. "We're not really equipped to be landlords." Lenders are sitting on nearly half a million repossessed houses nationwide, but getting rid of them quickly, even if that means taking a hit on price, seems to be the preferred response. A recent presentation by the head of Chase's retail-financial-services division showed that the company's servicing portfolio went from having about 52,000 repossessed homes...
...believe were good investments just to generate investment-banking fees. In one famous case, former Merrill Lynch analyst Henry Blodget told investors to buy stocks about which he privately wrote in e-mails to colleagues were "horrible," a "disaster" and a "POS," or piece of s___. Blodget paid $4 million to settle Spitzer's charges. The total civil penalties for Wall Street's research infractions reached $875 million. The conclusion: e-mail evidence was gold. (See the top 10 worst business deals...
...ships to be attacked in the Gulf of Aden through September of this year, the Alakrana and its three dozen crew have been held hostage off the coast of Somalia for the past six weeks. The pirates have demanded a ransom of $4 million, far more than the $1.2 million reportedly paid to release another Spanish trawler that was hijacked in April 2008. There have been reports - though no confirmation - from Echebaster, the firm that owns the Alakrana, that the company would be willing to pay the amount. But for the moment, their willingness is largely irrelevant...
...some of the region's biggest cities and frightened many of its residents. It started at around 10 p.m., when lights flickered for a few moments and then died. It lasted more than two hours. Power returned to São Paulo, a metropolis of more than 20 million people, around midnight, before going off again a few moments later. Lights came back on shortly before 1:30 a.m. (See TIME's photo-essay "A Long History of Olympic Politics...
...many ways, the blackout should have been no surprise. Localized blackouts on city blocks are not uncommon and even major incidents are not unheard of. A similar four-hour outage in 1999 left 60 million Brazilians in the dark. Computer hackers caused blackouts in parts of Espirito Santo and Rio de Janeiro states in 2005 and 2007, according to a recent and unconfirmed claim by CBS's 60 Minutes...