Word: modeste
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...sweet spot is in the low range." In 2005, Hiban's team sold 10 houses worth more than $1 million dollars. So far this year, they haven't sold any. That's why Hiban, like agents across the country, has retooled his business to target homebuyers of more modest means. "I'd rather have five sales for $200,000 than to sit and wait for $1 million," says Hiban, who now markets to first-time buyers and takes foreclosure listings from nine different banks. (See 25 people to blame for the financial crisis...
...problems. But it would be a major step in the right direction. President Obama has pledged to pass massive overhauls of both sectors this year, but if Congress lacks the stomach for comprehensive reforms - and these days it's looking like Kate Moss in the stomach department - a more modest effort to realign perverse incentives could take a serious bite out of both crises. (See pictures of Cleveland's smart approach to health care...
...late '90s, software entrepreneur John Zitzner was pretty close to being bankrupt. Yet within six months - in one of those typical "holy crap" dotcom-era stories - Zitzner had sold his company and become "a very modest millionaire." Fantastic. And in one of those typical "What do I do with all this money?" stories, he decided to help make the world a better place - specifically by co-founding a charter school in Cleveland. (Read TIME's report: "How to Raise the Standard in America's Schools...
...problem is that it's not clear how Oberstar's draft bill, which transit advocates argue still needs to be strengthened, will be fully funded, and the Obama Administration has urged a more modest bill in the short term. It's clear, however, that if the nation has any real interest in reducing driving, unclogging our roads and cutting back on the carbon emissions that come from transportation, we need to get serious about overhauling our antiquated public-transit system - and that will cost billions. "Failing to fix this will be unacceptable," says Goldberg...
...noted the power of big federal spending and expressed concern that Washington's largesse, if unchecked, would fundamentally alter America's competitiveness. But he also made clear his view that the latest rounds of federal spending have averted crisis and set the stage for a shallow economic recovery with modest inflation. Longer term, he believes the U.S. will be growing at only 1.5% to 2% a year, well below the historical growth rate of 3%, a shortfall resulting from ongoing consumer deleveraging and frugality and slow growth in business credit...