Word: recentered
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...project after another. By the time the tower opened on Jan. 4 with a lavish fireworks display, though, the showmanship had faded. Weeks earlier, Dubai's biggest state-owned development company had declared it was unable to pay its debts. Officially, Dubai owes its creditors $80 billion, though a recent report by regional investment bank EFG-Hermes estimates that the city may be in the hole for as much as $170 billion. After Sheik Khalifa al-Nahyan, the oil-rich ruler of neighboring Abu Dhabi, stepped in with $10 billion to stave off an embarrassing default, the skyscraper's owners...
Progress will be slow. A recent government reshuffle has moved power away from technocratic experts and outside consultants, and back into the hands of the royal family, especially the crown prince, Sheik Hamdan. But without oil money of its own, Dubai has little choice but to listen to its foreign creditors and stakeholders. And wealthy as they are, the leaders of the gulf countries also know their societies have to eventually change too, says economist Sfakianakis. Oil generates wealth, but the oil industry doesn't generate many jobs. Even in rich Saudi Arabia, unemployment is officially 11.6% - and that...
...School Research concluded that most students from shuttered schools did not see any improvement in education quality, mainly because they ended up at schools that were as bad as the ones they had just left. Several turnarounds - same kids, new adults - did show noticeable gains, however, according to a recent Chicago Tribune analysis of city schools. But on the whole, the experiment was a mixed...
...cost and human toll of the lock-'em-up strategy has made it hard to sustain. California lawmakers decided last month to cut the number of state prisoners by 6,500 in the coming year. Other states are already at work, on a smaller scale. In 2008, the most recent year for which data are available, 20 states reduced their prisoner counts by a total of nearly 10,000 inmates. As a result, according to the Justice Department, the number of state and federal prisoners grew by less than 1% nationwide - the smallest increase in nearly a decade. (The number...
...near the peak of the crime wave, was 32, according to Conklin. A decade later, it was over 35. Today, it is 36-plus. (It is also true that today's young men are less prone to crime. The juvenile crime rate in 2007, the most recent available, was the lowest in at least a generation...