Word: points
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Dates: during 1990-1999
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...That?s right. From Microsoft to Big Tobacco to our very own government, nothing wounds a giant more reliably than some candid internal documents ?- and this case is no different. Some of the uncovered memos attest to Justice?s knowledge that it was breaking the 1945 law; others point even further, to two sets of books: one for the payroll department and another for supervisors, who tallied up overtime hours as a measure of a lawyer?s efforts. The case will be defended by other Justice Department lawyers, lawyers who stand to get paid more if they lose...
Having heard from the Fed exactly what they expected to ?- that creeping inflation pressures necessitated a rate hike of a quarter-point (25 BASYS points) but no nudge in the now-neutral bias -? the markets may now exhale, slump a little, and get back to fundamentals. "The good news is that Greenspan remains ahead of the curve, acting promptly to hold down inflation just like he said he would," says TIME senior economics reporter Bernard Baumohl. "But the markets had their rally Monday ?- and most of the time it?s ?buy on the rumor, sell on the news...
...With mortgage rates now topping 8%, potential home-buyers might consider the unconventional: a 30-year loan with an adjustable rate that can only go down. Two lenders, www.servicesavers.com and, in Western states, www.citylinemortgage.com will notify you when prevailing rates drop as little as a quarter to half a point and will automatically refinance your mortgage. Sticking with the same company means you pay no hefty closing costs. You shell out for the new title at City Line and pay zip at Service Savers. To qualify, you need to make timely mortgage payments...
...heavy price for its failure to rein in militant ethnic Albanians in Kosovo. Albanian demonstrators Tuesday continued their human blockade to stop Russian troops, authorized by the NATO-led peacekeeping mission, from taking control of the town of Orahovac. Tensions in the province reached boiling point Monday as local Kosovar Albanians charged that Russian mercenaries had participated in Serb atrocities during the war, and barred their entry to the town. "For weeks now Russian forces have been taking hits from Albanian snipers, while the Russians believe NATO is doing very little to stop the perpetrators," says TIME Moscow correspondent Andrew...
...plenty of investors who don?t feel quite as smart as they did the day before. No hike? Twice the hike? Rally? Sell-off? Stay out of it until Greenspan?s gospel (2:15 p.m.) is fully digested. For the record, the safe betting is on one quarter-point hike (come on, guys ? when was the last time the Fed raised a half-point?) and then let things be for the rest of 1999. But you knew that already ? we told you last week...