Word: shrinks
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...announced Oct. 21 that the Treasury Department will slash compensation for the 25 highest-paid executives at the seven firms that received the largest chunks of federal bailout money: Citigroup, Bank of America, AIG, General Motors, Chrysler and the financing arms of the two automakers. Salaries are expected to shrink 50% on average, with the majority falling below $500,000, though firms that have already repaid their bailout debts, like JPMorgan Chase and Morgan Stanley, are not affected by the change. (See the 25 people to blame for the financial crisis...
...requires large quantities of fertilizers. As Pollan writes, this lack of “diversified agriculture” creates incredible dependence on nitrogen—leading to detrimental environmental effects: “By fertilizing the world, we alter the planet’s composition of species and shrink its biodiversity.” Consuming high-fructose corn syrup, a key product of this industry, reinforces the monoculture cycle. And, since U.S. government subsidies maintain low corn prices, the sweetener remains cheap and highly desirable for food producers. They’re unlikely to abandon it any time soon...
...show up on 2009 income statements. Instead, each bank will add an asset, a big one, to its balance sheet, right below where the cash they just handed over to the FDIC used to be. It will be called something like prepaid FDIC premiums. The asset will shrink each quarter by the amount each bank normally would have paid the FDIC. As the bank shrinks the asset, it will book the normal cost it would have paid the FDIC in fees that quarter, except as we all know, the fees will have already been paid...
...year, an increase from 14,000 in 2008. Mindful of Michigan's unemployment burden, the State Department, working with nongovernment refugee-resettlement agencies, places most of the newcomers in other states, like Arizona, Maryland and Virginia. Michigan got around 3,000 last year, and that number is expected to shrink by a third...
...once accommodated 1.85 million people is way too large for the 912,000 who remain. The fire, police and sanitation departments couldn't efficiently service the yawning stretches of barely inhabited areas even if the city could afford to maintain those operations at their former size. Detroit has to shrink its footprint, even if it means condemning decent houses in the gap-toothed areas and moving their occupants to compact neighborhoods where they might find a modicum of security and service. Build greenbelts, which are a lot cheaper to maintain than untraveled streets. Encourage urban farming. Let the barren areas...