Word: normalized
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...exactly, did WorldCom cook its books? By treating routine expenses as capital investments. Normal operating expenses must be subtracted from a company's revenues in the year they occur. But capital expenditures can be subtracted from revenues a little at a time over many years. In the short term, that lets money flow to the bottom line and boosts financial results. It's the oldest trick in the book, and mind-numbingly simple. Dennis Beresford teaches Accounting 101 at the University of Georgia and says what happened at WorldCom is "plain vanilla" trickery that he covers on the second...
...Powell Ranger Station is built near the old campsite. Joni Packard, the ranger in charge, wonders why anyone would want to cross the Lolo in this weather. "The snowpack is 120% of normal, and the temperatures we are seeing now are...unusual," she says. The rangers have not been up in the high country since last fall. On our next morning we start hiking up the Wendover Ridge, the route that Toby eventually recovered. The narrow trail leads through cedars and Douglas firs, and we pass clumps of bear grass, huckleberry bushes, dogtooth violets and carpets of wild strawberry plants...
...frozen-egg babies]," says Dr. Michael Opsahl of the Genetics and IVF Institute in Fairfax, Va. Kim doesn't buy that argument: "The bottom line is, Can you produce a baby? We say yes." He adds that the chromosomal tests done on his babies have so far come out normal...
...remembered as the Age of Apocalypse, he does not mean to suggest that the world will soon end in a fiery holocaust. "The word apocalypse," he observes, "comes from a Greek word that literally means 'lifting of the veil.' In an apocalyptic age, people feel that the veil of normal, secular reality is lifting, and we can see behind the scenes, see where God and the devil, good and evil are fighting to control the future." To the extent that more people in the U.S. and around the world believe history is accelerating, that ancient prophecies are being fulfilled...
...Global football, too, returned to normal. After a torrent of upsets in the early stages of World Cup 2002, Brazil, football's hyperpower, clinched its fifth World Cup. The Germans, superpowers themselves with three previous titles, had to settle for second. What a match it was; the Germans unexpectedly aggressive, claiming 56% of the possession, winning 13 corners and hitting the woodwork twice; the Brazilians weathering the storm before launching themselves forward to secure their victory. In the end, Germany, World Cup 2002's most parsimonious defenders, yielded to Brazil, its most spirited attackers. At the finish, tiny Japanese origami...