Word: wind
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...cars that pull away in the opening Grand Prix in Australia on March 29 will have to make do with fewer engines to get them through the season, cope with a lower limit on engine revs and learn how to handle cars that have undergone fewer hours of wind-tunnel testing than last year's. But the new rules won't just show up on the track. For thousands of high-tech suppliers like Xtrac, many of them clustered around Oxford in southern England, recession-era racing and shrinking budgets are the next big challenge. The industry is typically "very...
...Then Geithner's staff made the discovery that would infuriate nearly everyone in Washington. On March 10, the Secretary learned, 10 days after his staff first got wind of it, that AIG had paid out $165 million in retention bonuses to executives at the unit that compelled the U.S. to bail out the company in the first place. It took Geithner until 7:40 the next night to place what must have been a tense phone call to AIG's newish CEO, Ed Liddy. The bonuses were not tenable; they had to be canceled, he demanded. Liddy, a dollar...
...With all the political theater and populist grandstanding, though, the bigger issue has been obscured. And that is, Just what is AIG doing with the $170 billion? Does the company's strategy, which is to wind down its exposure to toxic assets and sell some of its profitable insurance divisions to help pay off the government debt, stand a good chance of succeeding? And if it does, will the world avert financial Armageddon...
...which includes China, India, Russia, Brazil and Mexico, is exponentially harder. It doesn't help that members' interests vary so sharply. China, for example, owns so much U.S. government debt that it's publicly worrying about American financial stability. Washington, by contrast, has thrown fiscal discipline to the wind as the Obama Administration seeks to spend its way out of crisis, pushing the budget deficit into potentially destabilizing territory...
...begin to wind down here, FlyBy would be remiss if it didn't mention a couple of its favorites. Quincy has been fairly low-key, outside of the distinctive color of their shirts. In this scene, they were in the process of getting outclassed by the Lowellians standing next to them. Fear not, though, you'll be getting a taste of that Master's Residence later today...