Word: tankered
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...sent the White House $10 billion in military projects to include in the stimulus package--barracks, hospitals, clinics, child-care centers--that can more quickly generate jobs. Any additional funds saved by killing off major programs could be diverted into less glamorous programs the military needs more: cargo and tanker aircraft, Stryker combat vehicles and small littoral ships designed for coastal warfare. Today's weapons can be radically improved with new electronics, engines and other components without having to build whole new ships, planes or tanks. The F-16's builder says the latest version of that warplane rolling...
...harder than it looks. In December, houses sold for 15% less than they did a year earlier. No act of Congress could change that. Says Wellesley College economist Karl Case: "Let's not delude ourselves into thinking we're driving a speedboat when we're driving a tanker...
...price tag that Morgan Stanley had reportedly been negotiating in mid-January. The apparent correction is unlikely to have been caused directly by an institution like Morgan Stanley, but instead by a perception among traders that the average $1.25 spread between monthly contracts is reasonable. Of course, leasing a tanker is an extreme measure of storage, and the cost of storing at a more traditional location is much lower; the spread remains irregularly high, and opportunity still exists for anyone with access to storage cheaper than a tanker...
...Somalia Pirate Booty The Somali pirates who had held a Saudi oil tanker captive for nearly two months released the ship after receiving a reported $3 million ransom on Jan. 9. All did not end well for the pirates, however: reports said several of them drowned when their boat capsized as they returned to shore. The tanker, the Sirius Star, is the largest ship ever hijacked and had been held since Nov. 15. It was carrying about $100 million worth of crude...
...movies made in some lost developing country or the extremely successful Disney franchise Pirates of the Caribbean. Some gravity, however, is called for: This year alone, pirates with land bases in Somalia have attacked over 100 ships off the coast of Africa. Most notably, they have held a Saudi tanker with over 100 million dollars in oil and a Ukrainian ship full of Soviet-era tanks (the destination of which remains unknown). According to CNN, as of December 5, almost 300 crew in 14 vessels adrift at sea remained hostage to Somali pirates. Clearly, these guys are not your regular...