Word: timber
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...ancient city has emerged as one of a string of economic miracles on Europe's northern fringe. Trade volume in Riga has more than doubled over the past 10 years, and the average annual income has almost tripled to $6,200. Nearly 80% of Latvia's exports - from timber to textiles to farm machinery - now heads to markets in the West. Tourism is booming, too: last year, ferries, cruise ships and low-cost airlines disgorged 1.5 million visitors in Riga, up from 1.1 million the previous year. Visvaldis Lacis, an 83-year-old author and parliamentarian, recalls that under Soviet...
...Baroody is no businessman. He's a business lobbyist. The distinction is crucial to understanding an Administration in which energy lobbyists oversee mining and drilling, timber lobbyists oversee logging and the National Cattlemen's Beef Association has practically moved to the Department of Agriculture. These are Washington people, not corporate people. They make legislation, not payroll. They're insider hens who side with foxes and know the henhouse well...
...Baroody is not a corporate insider - he's a Washington insider. And he's not a businessman - he's a business lobbyist. Those may sound like irrelevant distinctions, but they're critical to understanding the Bush Administration, where energy lobbyists oversee mining and drilling, timber lobbyists oversee logging, hospital and pharmaceutical lobbyists oversee health, and the National Cattlemen's Beef Association practically transferred its staff to the Department of Agriculture...
...next dozen years were spent in cover bands, trading on Top 40 hits and rock standards and occasionally touring to Singapore or Indonesia, but returning to the same smoky rooms in Kuala Lumpur. They were colorful times. "Malaysia was in the middle of a massive timber boom in the 1980s, and the timber graders were licensed to carry weapons because they were carrying huge sums of money around with them," he says. "But many of the timber graders were also gangsters. You would have to play the same song several times a night, otherwise a gangster would...
...share of stock -- or a bond, a house, a stand of timber or any other asset--is worth the following: the future income one hopes to receive from it minus a haircut for the risk that things won't turn out as expected...