Word: rubins
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...dirty little secret in the incentives game is that the real criteria for site selection are skill and cost of labor, proximity to customers and price of real estate. Tax breaks are rarely the dealmaker. Barry Rubin, a professor of public and environmental affairs at Indiana University, notes that of a firm's variable costs--charges that come on top of fixed expenses like lease payments--state and local taxes make up at most 3%. Giveaways are likely to have little impact unless other factors are virtually equal...
...lack of a bailout plan poses a real threat to Wall Street, one reason U.S. Treasury Secretary Robert Rubin made a quiet visit to Tokyo recently to stress the need for decisive action. The threat? With their confidence in Japan's banking system still shaky, U.S. and other foreign banks could decide to cut off credit lines to overseas branches of Japanese banks. If Japanese bank branches here lose their access to credit--and hence their ability to do business--they might be forced to sell their huge holdings of U.S. Treasuries to stay afloat. That could trigger a sell...
...Rubin got some of what he hoped for last week, when 21 of Japan's top banks wrote off an astonishing $106 billion in bad loans--welcome news in global banking because it signaled Japan's intention of facing reality. But there is still a danger. "If it turns out that this first bailout is a nonstarter," says Richard Koo, a senior economist at Nomura Research, "it will force many U.S. banks to reassess Japan's ability to control the situation. They may be pressed to cut credit lines to Japanese banks...
...James Carney, Charlotte Faltermayer, Janice M. Horowitz, Lina Lofaro, Lara Marlowe, Michael Quinn, Jeffery C. Rubin and Douglas Waller
...ripe hour of 10:30 a.m. and immediately went to check my e-mail. At home I was a fervent anti-technocrat, but I have had to adapt-here at college, checking your e-mail is more important than that first cup of coffee. After trekking to Rubin's Deli in Brookline for lunch with a friend, I returned to Harvardland to finish up my work before the much-anticipated Freshman Formal that night. I checked my mail in the monstrosity we call a Science Center, and then set out to cross the Yard and head home. What...