Word: offloading
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Dates: during 2000-2009
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...both directions. Take Walmart. By some estimates, over the past several years, the retailer alone has accounted for 15% of U.S. imports from China, which would mean in excess of $30 billion this year. As those goods enter the port of Long Beach, Calif., they require American workers to offload them, American trains and trucks to ship them and American workers to sell them. None of those facts are visible in the trade statistics, yet they are real. And take a company like Schnitzer Steel of Oregon, a once regional company that collects and sells scrap metal...
...nation's largest banks, any one of which could derail the recent rally. Not only will banks' earnings probably be down in the first quarter, Treasury Secretary Timothy Geithner's plan to rid the banks of their troubled loans suggests there could be billions more in losses as banks offload these loans in the quarters ahead. What's more, a number of banks have yet to deal with a requirement to recapitalize their large trove of off-balance sheet assets, which will put further strain on banks already strapped for cash...
...purpose of Emergency Economic Stabilization Act, known as the bailout plan, was to restore stability and liquidity to the U.S. financial system. The TARP, one of the Act's driving initiatives, was intended to be a mechanism for financial institutions to offload toxic assets, in general, heavily leveraged ABS securitized by banks and held on their books. An ABS is considered a toxic asset when the value of the ABS is less than the original investment. The toxic asset has a negative impact on the bank's balance sheet which, when multiplied, reduces the banks ability to lend...
Much of the fault does lie with the U.S. and its technology companies, which export e-waste because it is cheaper to offload the problem on poor nations than it is to take care of the waste at home. "This is effectively long-distance dumping," said Achim Steiner, head of the United Nations Environment Programme. One solution is to promote recycling programs for old PCs and phones, as Dell has done recently, or try to reduce the amount of toxic metals used in those products, as Apple has done. The answer will almost certainly have to come from rich importers...
...inaction has indeed been murderous. A week and a half after the storm inundated the Irrawaddy delta with a 12-foot-high tidal surge, flattening countless homes, the junta was still blocking much of the aid proffered by foreign nations. Although three U.S. military cargo planes were allowed to offload relief supplies in Rangoon, the World Food Program estimates that the amount of aid reaching storm victims is just a fraction of what's needed. Hundreds of international disaster experts are still awaiting visas to enter the country. Meanwhile, the junta's own relief efforts are painfully inadequate, with some...