Word: payoff
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Rebuilding requires patience, and thanks to depth of its sophomore talent, the Harvard men’s golf team finally saw a payoff for last season’s rebuilding with a strong finish at the season-opening Mid-Pines Intercollegiate.Competing in a crowded thirteen-team field in Southern Pines, N.C., the Crimson managed a fourth-place finish by posting a three-round team score of 870. Harvard teed off at the Mid Pines Inn and Golf Club looking to build on a strong finish last season as the then-freshmen gained valuable playing experience.Though East Carolina took...
...Boeing's game: financiers and bankers. What do bankers know about building aircraft? "They gave us some great advice in terms of configuration in the airplane, going to a more standard aircraft and having the ability to switch engine manufacturers," says Randy Tinseth, vice president of marketing. The payoff: higher residual value of the airplane. Aboulafia says getting that kind of endorsement probably took a lot of hand holding and diplomacy, but the lesson is to get out there with the best business case you can offer: "Any doubts that the partners have are gone, of course, because this...
...them as collateral to issue bonds to finance other deals. Money from thousands of homeowners covers the interest payments on those bonds. To attract investors, the bonds are rated by risk groups, called tranches (the French word for slices). The more secure the bond, the lower the payoff for investors. Those who buy the riskiest pool of bonds - the ones backed by the riskiest home mortgages - are promised the highest return. ? Mortgage-backed securities ? Pool of mortgages ? Bond tranches ? Risky bonds re-rated...
Sometimes the payoff is extraordinary. Four years ago, Adele Douglass, 60, cashed out her $60,000 401(k) to launch a nonprofit that certifies meat from humanely treated farm animals. She wasn't in it to earn a good return; she wanted to make a difference. Last year more than 14 million farm animals were raised under her guidelines--up from 143,000 in her first year. Now her Humane Farm Animal Care in Herndon, Va., is attracting enough support for her to take a better salary than she earned at her last job, with the American Humane Association...
...leads to the payoff, when an agent tells the breathless owners, "I would list your house for ..." It may not be realistic (how certain can an appraiser be that a half-bath is worth exactly $20,000?). But it's brilliant TV, allowing us to indulge a little jealousy (say, of the lucky bastard who bought a Manhattan apartment for $90,000 in 1990) and vicarious money lust. And it demonstrates how the housing boom changed the way people look at their homes: as an expression of their financial savvy rather than their creative selves...