Word: tunneling
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...October of 2006, the New York Times reported that the millions of free newspapers distributed to subway passengers were a prime culprit in the clogged storm drains and tunnel fires that harangue the city’s engineers and bring train traffic to a halt. “We have complained bitterly,” said a Metropolitan Transit Authority (MTA) board member, “about what we call the free newspapers.” The MTA has since launched a poster campaign under the title “Bad News,” instructing passengers what...
...year project that spent an estimated $22 billion on a 3.5 mile highway beneath the city—was one of the nation’s largest and most expensive megaprojects, said Flyvbjerg, resulting in a 224 percent cost overrun. And construction of the Chunnel, a tunnel connecting Britain and France under the English Channel, caused such high cost overruns that the British economy may have been better off without it, he said. Flyvbjerg recommended that planners adjust their estimates based on budgetary overruns from similar projects in order to combat this problem. He cited the Guggenheim Museum in Bilboa...
...concealing a ruler in her sleeves - didn't have to endure the standard redemption process of being enlightened, converted, broken. But this is a parable, and the people in it are meant to signify. The more rigid the limitations, the more room most of the actors have to tunnel through convention into epiphany...
...sell those assets to the public, letting shareholders take over the debt. Macquarie and imitators like Australia's Babcock & Brown make money at every step, with fees for the deal, for advice, and for managing the assets. Macquarie runs toll roads in America, bridges in Portugal, French autoroutes, a tunnel in Germany, and airports from Sydney to Copenhagen. About 290 million people ride its buses each year, and 17 million light...
...enough for worried investors or for Fed Chairman Ben Bernanke, who according to inside reports had been advocating for a recapitalization for months. Money flowed out of the stock market, including that of many large hedge funds. Some $2 trillion in market value disappeared in a week. "It was tunnel vision," says Republican Congressman Spencer Bachus, ranking member of the House Committee on Financial Services. At a meeting at the White House on Sept. 25, Bachus says, he and others brought up the need for alternative approaches. "The President said, 'Paulson wants to do it. He's the guy. Whatever...