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...while short-term costs might seem painful during an economic slump, cities will be keen to press longer-term benefits. "The London 2012 Games will provide economic gold at a time of economic need," Tessa Jowell, Britain's Olympics Minister, wrote in the latest annual report on progress toward 2012. That will mean 100,000 contract jobs to stage the Games - of those currently working on the Olympic site, one-tenth were previously unemployed - with half as many long-term positions created in the park and surrounding area. "The Games remind us," Rogge said on a recent visit to London...
...role of unifier and diplomatist for all of Africa might not seem naturally suited to Gaddafi, but his persona will ensure that his efforts receive plenty of publicity. In his 40 years of dictatorial rule, Gaddafi has reinvented his identity as a leader almost as many times as he has stunned with his exotic outfits and female bodyguard. Nor has his rule been without controversy; Gaddafi’s four-decade-long tenure has seen the imposition and removal of sanctions and several high-profile incidents with Western nations, most notably the Lockerbie bombing of 1988, which...
...matter. These ads seem more ripe for mocking than for making people buy newspapers. So that's what this group of mostly New York-based comedians and actors did under the direction of Michael Showalter of Wet Hot American Summer fame. The spoof even pokes hilarious fun at the paper and its advertising methods in a meta way! It's actually an ad for an arts and entertainment venue in New York City and it includes people like Paul Rudd, Mike Birbiglia, Andrea Rosen, Michael Ian Black and a bunch of people who probably roll in an insider comedian circle...
...That's basically the scenario for Strata. Its investors don't owe a dime on the first $130 million (or 13%) in losses on the $1 billion bond portfolio. That may seem like it gives Strata investors a lot of protection. But if just 15% of BofA's $1 billion imaginary bond portfolio, which are real bonds just not necessarily owned by BofA, goes bad, then 100% of the investment in Strata is toast. Because of that, Moody's rated the bond the equivalent of BBB-, which is the lowest investment grade rating the firm...
...initial days in office were marked more by symbolism than substance - he was hardly trying to execute any fancy dives. Bill Clinton's first two weeks - studded by a needless political explosion about gays in the military and its own share of household employee miscalculations - made Obama's seem wildly successful. (See how the world is cashing in on Obama...