Word: one-tenth
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...nasty cuts to close ugly deficits, but it hasn't had to release prisoners or close parks, and its IOUs are being paid. Its businesses aren't fleeing to Nevada or anywhere else; Jed Kolko, an economist at the Public Policy Institute of California, has shown that fewer than one-tenth of 1% of its jobs leave the state each year. Even California's real problems tend to get magnified by its size. If it were a country, it would be in the G-8. So, yes, California has the most foreclosures and layoffs. With 38 million residents...
...Citi, the controversy surrounding Hall's pay was about whether a bank that has received $45 billion in government assistance should be turning around and handing over big bags of cash provided by taxpayers, most of whom won't make one-tenth of Hall's annual salary in their entire lifetimes, to its employees. But now that Hall has left Citi, a larger question remains: Is anyone really worth $100 million a year, and what exactly do you have to do to deserve that much...
...David Letterman's overstuffed chair, Obama has warned about the rocketing increase in health-care insurance - 5.5% last year, according to one study - and promised to bend the cost curve down in the future. He has described changes to the health-care system that could bring down costs for families and long-term government deficits. But his numbers are hypothetical. "If we are able to slow the growth of health-care costs by just one-tenth of 1% each year," he announced in a recent address to Congress, "it will actually reduce deficits by $4 trillion over the long term...
This year’s freshmen are the most racially and economically diverse first-year students ever. One-fifth are Asian, one-tenth Hispanic, another tenth black. Two-thirds receive financial aid. To highlight this variety, the Freshman Dean’s Office tomorrow will hold “Community Conversations”—discussions in which freshmen will “situate [themselves] within this diversity...
...still minimal by world standards). Its sculptures and chedi ooze grandeur, not rot. And the Chao Sam Phraya leads the most impressive array of museums found in the country - worth much more than a day. Get a crack at meditation upon the ages: Ayutthaya is a mini-Angkor with one-tenth the crowds...