Word: rechanneling
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...Florida Bay, sustaining life in marshes, coral reefs and cities. But a half-century ago, everyone else deemed it a mosquito-infested alligator swamp that was in the way of sugar fields and pink ranch houses. So the U.S. Army Corps of Engineers built canals and levees to drain, rechannel--and utterly trash--eons of delicate natural plumbing. Result: 90% of South Florida's wading-bird population is gone, and the human population, set to double to 12 million in 50 years, is facing potentially catastrophic shortages of drinking water, partly because drainage canals carry off too much water...
University Attorney Frank J. Connors says when the gifts become outdated, Harvard must sometimes resort to legal recourse to rechannel the funds. It usually means a court appearance known as a Cy Pres hearing...
...when many of his Boston Brahmin contemporaries are easing into retirement, 66-year-old Edward Crosby (Ned) Johnson 3rd, chairman of Fidelity Investments, the largest manager of mutual funds in the world, continues to move at warp speed. The year 1997 is the one in which he intends to rechannel the huge savings pools in Asia and Europe through the global stock market, duplicating overseas the mutual-fund juggernaut he has created in the U.S. His primary target: the $9 trillion of accumulated savings in Japan, where individual investors still squirrel away much of their earnings in savings accounts that...
...ceiling.) Third, Clinton would allow families earning $100,000 or less to place up to $2,000 a year in an Individual Retirement Account (IRA) -- with the new provision that the money could be withdrawn for educational and other family-related purposes without paying taxes. Finally, he promised to rechannel some federal funds into direct grants for job-training.Payment for all this, as predicted, would come from steep budget cuts at the department of Energy, Transportation and Housing and Urban Development (where, the president said, 60 programs will be streamlined into four). The result, Clinton said, would be "a leaner...
Hospitals further rechannel the health care dollar to pay the pharmaceutical companies. This chunk of the health budget is growing--medical technology continues to surge ahead at a breakneck pace, bringing with it skyrocketing costs for designing and testing frontline drugs. As the average life expectancy lengthens, the desire to prolong a high quality of living will spur the use of more and more expensive medications...