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...Conway, a turnaround expert with the firm Conway and McKenzie in Birmingham, Mich., says Ford's $26 billion debt could still prove troublesome, and hefty interest payments will cut into the company's ongoing profitability. But one antidote to heavy debt is a healthy stock price, which Ford increasingly enjoys. The stock is up from about a buck last November to a recent price of $7.30 per share, and in May, Ford was able to raise $1.6 billion through a common-stock offering of 345 million shares. GM, by contrast, is hoping to do an IPO next year. (Read "Despite...
...Wilson] apologized immediately afterward but I don’t think that’s adequate... If an apology is the consequence of an outburst, I think we can expect more—that’s not a sufficient penalty. That’s not a sufficient price to pay. I’m not saying the guy should be kicked out of the House…but there ought to be some rebuke, reprimand, censure—something that will discourage that kind of conduct in the future. If you do that to the president, it?...
...major change to the program came in 1977, when Congress stopped requiring payment for food stamps and distributed them to all recipients for free (the price had steadily decreased over time, until it represented just a fraction of the face value). The move dismayed a number of observers, who had supported the program as a means to help the poor help themselves, not as a direct government handout (the Agriculture Department had insisted on selling food stamps for fear of undermining the dignity of recipients). The policy created a backlash - some middle-class shoppers indignantly complained that food-stamp users...
...Arguments over the cap and trade system, as it is known, and especially its effectiveness compared to a carbon tax, have fizzed for years. Both mechanisms slap a price on emissions, and urge those affected to invest in more efficient uses of energy. Critics of taxes say that they're open to fluctuation and that certain industries can win exemptions, undermining a tax's efficacy. Opponents of cap and trade systems, meantime, level similar charges. This much is sure: while taxes might fix the short-term cost of emitting CO2, helping homes and businesses figure out how much to invest...
...which ArmorGroup won with a substantially lower bid. Now, Wackenhut has found itself managing the Kabul embassy contract anyway. In June, Wackenhut vice president Samuel Brinkley admitted to Congress, "We feel we can safely say that adequate guard services for the Kabul embassy cannot be provided for the contract price." Instead of making a profit, he said, the firm was losing $1 million a month. "We would welcome any help that the [Senate] Subcommittee [on Contracting Oversight, of the Committee on Homeland Security and Governmental Affairs] might be able to provide to enable the government to pay a more reasonable...