Word: perring
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Dates: during 2000-2009
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Grunwald's story contains the most gems per paragraph of anything I have ever read [Jan. 26]. His analyses of the problems, the opportunities, the pitfalls and the inevitable lining up at the feeding trough are all spot-on. I especially liked the admonition to give the money to the people who can't afford to save it. That money will go straight to the free market - even though my wife and I will most likely save anything we get. Paul Bliss, SAN DIEGO...
Today, Russia's finances look a lot less robust. The government budget was based on oil at $70 per bbl., far above the current price, and it will consequently swing into deficit next year for the first time since 2001. The stock market has dropped more than 70% in the past year, as the nation's business élite have dumped stocks to repay the huge loans they had taken out to finance acquisitions in Russia and abroad. Capital is fleeing--investors have pulled about $245 billion out of Russia since August--and the ruble is under pressure...
Such optimism can be found elsewhere. The Kaluga region, to which Lyudinovo belongs, continues to draw in foreign investors, including automakers. Volkswagen has invested about $350 million in an assembly plant and is producing about 320 cars per day. Peugeot is not far behind. Dietmar Korzekwa, VW's group representative for Russia, says the automaker is continuing with its current growth plans. In part, VW is betting that if the Kremlin raises import taxes on autos, as it has suggested it might, it will become more advantageous to manufacture in Russia...
...covered with banana leaves for three to four days. "Technology-wise, we haven't left the 18th century," says Rosenberg. "It is a process that cannot be industrialized." Silvino Reyes, who owns another hacienda, La Concepción, agrees: "Although Venezuelan cacao can sell for close to $2,500 per ton, our production level is the same as three centuries ago." That is, about 15,000 tons a year...
...fidgeting fingers. When the suspect’s attorney impatiently states that he has instructed his client not to say anything, Lightman nonchalantly waves his hand, saying, “I don’t have a lot of faith in words myself; the average person tells three lies per ten minutes of conversation.” Behind the one-way mirror, an FBI agent gruffs, “We don’t have time for this scientist to talk to the guy.” Within a minute of this skeptical remark, Dr. Lightman determines where the suspect...