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Areva has soared on nuclear's second coming. But its 2008 profits--$824 million on $18.4 billion in sales--were down 17% from 2007, owing mostly to a whopping $2.4 billion write-down linked to construction troubles with what is supposed to be its leading-edge Finland reactor...
...Words On Aug. 31, Turkey and Armenia agreed to establish diplomatic ties for the first time, a rapprochement that could thaw a dispute dating back to World War I. The heart of the feud has been Istanbul's refusal to acknowledge the massacre of up to 1.5 million Armenians by Ottoman Turks as "genocide"--a near unanimous designation among scholars. Turkey prefers a term that means "mass deportation...
More fun and games when a presenter on Private Equity, following Studzinski, shared with us that "When I started in this business 16, 17 years ago, the first time I got to wire $500 million I found that quite exciting." We understood the sentiment: sometimes our moms wire us $200 for books at the beginnings of terms. That's always a heady...
Just in case we needed more evidence of the hardship inflicted by the country's devastating economic crisis, earlier this month we got it: more Americans than ever are receiving food stamps. The Department of Agriculture reported that 35.1 million people relied on government help to buy groceries in June - 713,000 more than in the previous month and a 22% jump from the previous year's figure. The odds are better than ever that when a shopper wheels a grocery cart to the checkout aisle, Uncle Sam is picking up the tab. (Read about the state of homelessness...
...orange stamps, which could be used for any kind of food, and they were given half that amount in free blue stamps, which could be used to buy designated surplus foods (all but the most destitute had to make some payment to receive food stamps until 1977). About 20 million people made use of the original food-stamp program, but its popularity dwindled as prosperity returned, and the program was stopped...