Word: profiteering
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Dates: during 2000-2009
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...bank's nonperforming loans were up 30% in 2008 compared with the previous year. Even though some Asian economies, chiefly China and India, appear to have passed through the worst of the downturn, analysts still doubt StanChart can repeat 2008's performance this year. Brokerage CLSA predicts pretax profit growth will slow to 4% in 2009. Reflecting the heightened risk, Standard & Poor's in late April revised its outlook for the bank to negative. "The biggest single worry is the economies in the region," says Nick Hill, bank credit analyst at Standard & Poor's in London. "We think they...
...reform, Karen Tumulty states the health industry needs a "cultural and economic revolution" [June 15]. I cannot agree more. But in her discussion of the five big health-care dilemmas, she omitted two key financial advantages of a single-payer system: dramatic reduction in administrative costs and elimination of profit. A single-payer system would immediately make hundreds of billions of dollars available to purchase health care and give everyone access without increasing taxes or costs to employers. Hospitals, physicians and other providers could be paid more appropriately, and the benefits package could be expanded. Such a system would also...
...closely to the playbook he used to revive Fiat. On June 10, the day Fiat sealed the deal, he announced a thorough organizational revamp. From now on, each of the four individual brands--Chrysler, Jeep, Dodge and Mopar (which makes parts)--will be distinct business units responsible for profit and loss. He also reached deep into the ranks, bypassing the engineers and putting a younger, energetic generation of managers with marketing experience in charge of the brands. "That's a mirror image of what he did at Fiat," says a longtime Fiat executive. Next up: installing Fiat production platforms...
...Marchionne gets mirror results, he'll make two governments and a union very happy. Fiat's auto unit, after 17 consecutive quarters of losses, finally turned a profit in 2005. The time to market for its cars has dropped from four years to 18 months...
...June 29 and 30. In the running are Exxon Mobil, Shell and BP as well as smaller Chinese, Russian and other state companies. Winners will have a 75% stake in the project - with 25% to the partnering Iraqi oil company - and will be compensated for their costs plus a profit based on increasing a field's oil production...