Word: broking
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...expansion of 65%. High oil prices are the main reason. Still, says Roderic Lyne, a former British ambassador to Moscow, "the boom doesn't stem from oil alone. Genuine entrepreneurs have built good businesses in telecom, information technology, retail, brewing, food processing and consumer credit." A government that was broke under President Boris Yeltsin has had six budget surpluses in a row, just agreed to speed repayment of its foreign debt, and has socked away over $70 billion in a rainy-day fund. More than 6 million Russians a year now take foreign holidays. There are more than...
...accounting standards. Rosneft's [an error occurred while processing this directive] goal, Bogdanchikov promises investors, is "to set a new standard of corporate governance in Russian oil and gas." Try telling that to Mikhail Khodorkovsky, a former Russian oligarch currently serving a jail sentence in Siberia. The Kremlin broke up his oil company, Yukos, in 2004 with a combination of criminal fraud charges against executives and massive back-tax claims that far exceeded the firm's revenue. Yukos' main oil-production unit was auctioned off to a single low bidder that turned out to be a front company for Rosneft...
...didn't stop there. Whatever support the Israelis had for the mission was undermined by the lead-footed way in which it was carried out. In the first days of the operation, Israeli warplanes wrecked three bridges and several roads inside Gaza. The F-16s overhead repeatedly broke the sound barrier, producing thunderous sonic booms on the ground. Most shocking was Israel's destruction of all six transformers at Gaza's central power plant, cutting off electricity to 45% of the territory's inhabitants. Israeli officials insisted they took such measures to aid in the hunt for Shalit...
...face it--Uncle Sam is broke. The gap between the U.S. government's future expenses and tax receipts is $63.3 trillion. No surprise. The nation has 77 million retiring baby boomers on track to collect well above $30,000 a year--the average amount we're paying today's elderly--in Social Security, Medicare and Medicaid benefits. If you're planning for a cushy retirement, forget it. Get ready for much higher taxes, lower benefits and inflation...
Initially, Congress created a seven-person commission to oversee construction. After the first chief engineer broke down under the stress of the job, Roosevelt sidestepped the panel and gave total power to one man, Army Colonel George Goethals. As absolute ruler of the Canal Zone, Goethals oversaw every detail, from digging and building to resolving personal disputes among workers...