Word: sales
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...know gas is expensive when the Florida Lottery starts doling out prizes in the form of gas cards. But here's another sign of the times: fear of thieves siphoning fuel has led to a surge in the sale of locking gas caps. Stant Manufacturing, a leading gas-cap maker, has already sold more locking caps in the first six months of this year--some 1.3 million--than in all of 2007. Yes, these locks can be jimmied, but New York City locksmith Frank Persico thinks they're still worth it. "You have to put time and effort into actually...
...this year. The Dodd-Frank plan aims to increase that number with help from the FHA. The agency would insure existing loans in which a) the lender forgives at least 10% of the debt and switches to a fixed rate and b) the borrower agrees to split any sale gains with...
When the channel first went up for sale early this year, there were several bidders, including Time Warner (the parent company of TIME), but by last month there was just one suitor left. "I think that part of the reason the other stations backed out is because they couldn't justify paying that much," says David Trainer of New Constructs, a business valuation company in Franklin, Tenn. "If it doesn't make financial sense, the next reason to buy is ego. 'I got a new toy. My kingdom is larger...
While the forecast is still murky on exactly how NBC will leverage its new acquisition, all watchers agree that the sellers got a sweet deal. "We feel it is a very fair price," says Decker Anstrom, president of Landmark Communications, who called the sale a "bittersweet moment" for the privately owned family business, which launched the cable channel back in 1982. Initially derided as the brunt of jokes, the forecast focused channel became profitable within four years and soon had established itself as a media category killer. Sheryl Crow named a song after it in 2002, and today...
...drug money. Life in the Cordillera Occidental, where TIME recently spent three days with the 18th Front, revolves around cattle ranching and coca cultivation. The FARC collects what it calls "revolutionary" taxes from coca farmers and drug traffickers, both of whom pay a $90-per-kg duty on every sale and purchase of unrefined cocaine in that area. Similar tariffs nationwide - and ransoms earned from kidnapping - are said to net the FARC hundreds of millions of dollars a year. The Colombian government, as well as its allies in Washington, have long used the term "narco-guerrillas" to describe the FARC...