Word: result
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...made redundant and now live on benefits as a result of the credit crunch brought about by our banking fraternity. Like many, I felt disappointed that, after being rescued with billions in taxpayers' money, they were still trying to give each other annual million-dollar bonuses. But then I felt better - I too was to receive a Christmas bonus: an extra ?10 in my December unemployment benefits. I can now almost afford a haircut. Joe Field, LONDON...
...View from Main Street Re TIME's story on wall street [nov. 9]: Out in the real world, professionals who construct bridges, buildings and even houses must be licensed, to encourage adherence to stringent technical, legal and ethical standards. Ignoring the rules can result in losing one's job. Why? Because if these things are constructed poorly, people will get hurt. Since Wall Street is in the business of "engineering" markets in order to make the greatest possible amount of money, why shouldn't they also be licensed and held to similar standards? Mark Revis, Moreno Valley, Calif...
Both Chinese and Americans view their economic interdependence warily. Yet in many respects the relationship has been mutually beneficial and may have been the primary reason the financial crisis did not result in a worldwide Great Depression. China was able to spend aggressively because for 20 years U.S. businesses had been investing in the Chinese economy, building factories, adding liquidity to Chinese banks, opening stores ranging from Avon boutiques to Kentucky Fried Chicken outlets, making cars, selling power turbines and semiconductors - all of which were essential to the rapid urbanization and modernization of China and the emergence of a vibrant...
...brand in the country, growing 22% this year in China compared with barely 2% in the U.S. FedEx invested billions in logistics in China and the Pacific Rim, not just enabling foreign companies to function more smoothly but also exporting knowledge of modern shipping in the process. The cumulative result was a transfer of capital, yes, but more vitally of knowledge that has been the key to China's success. (See pictures of China's electronic waste village...
Alabama, rather than adopting penalties, is offering discounts on state workers' $70 monthly premiums. To get $30 off for not using tobacco, participants have to sign a form under penalty of perjury. (An audit of relevant medical records could result in back-billing and a recall of claims.) Since the plan started giving such a discount in 2005, it has seen a 4% decline in the number of smokers...