Word: shorted
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...anymore. Earlier this week, aluminum giant Alcoa posted fourth-quarter results that fell short of Wall Street's expectations, triggering a sell-off in the company's shares. The company reported a loss of 28 cents a share, which was narrower than the $1.49-a-share loss a year earlier. However, it missed analysts' projections. Investors were particularly miffed at Alcoa's revenue number, which totaled $5.43 billion, down 4.6% from $5.69 billion a year ago. Analysts had been expecting revenue growth. Investors subsequently dumped shares, causing the stock to plunge 11%, its worst one-day drop since last March...
...short, says Field, "we've got a huge number of studies that have given us important insights about how plants will respond to climate change." But there's even more he and his colleagues don't know yet. And that means that any straightforward conclusion about whether climate change is good or bad for plants is by definition extremely premature...
...legislation on the basis of the Medicaid expansion, saying it amounts to an unfunded mandate. In addition, at least 13 state attorneys general have said Nelson's special deal is unconstitutional. But extending the Cornhusker Kickback to all 50 states would be a lot more than a quick, short-term fix to a political problem. By further nationalizing Medicaid, a public insurance program that's now jointly funded by states and the Federal Government, Democratic reform could move the health insurance system even further under the umbrella of the Federal Government, which was the main criticism of the much maligned...
Pawnshop companies make money by giving short-term loans to customers who offer jewelry, electronics, tools, musical instruments and other merchandise as collateral or by purchasing merchandise outright from customers at a steep discount. Loan terms are typically one to three months in length, with customers expected to cough up monthly storage and loan-servicing fees of 10% to 20% a month. If a customer fails to make a monthly payment, the pawnshop, following a grace period, can sell the item. (See the five big questions about retirement...
...bigger obstacle for pawnshop owners is legislation. The three public pawnshop companies also make so-called payday loans: short-term loans, typically seven to 30 days in length, that are not backed by merchandise. The loans typically carry interest rates of 10% to 20% for a two-week term, which translates into an annual percentage rate exceeding 300%. Industry experts say the APR is just theoretical since payday loans are meant to be very short term, lasting only until the borrower's next paycheck. Even so, a number of states, like Ohio, are imposing caps on the rates...