Word: dollarized
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Dates: during 2000-2000
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...unpleasant a job that Genmar has a hard time getting workers to do it. Pyramid built a few test hulls for Genmar, but Kirila's system wasn't refined enough for Jacobs' engineers. "They were 90% there, and we needed 100%," says Jacobs. "So it represented a multimillion-dollar leap of faith...
Both Holders and ETFs are tax efficient. You decide when to sell so you'll never get smacked with a surprise capital gain. With Holders, you also have the option of weeding out losers and taking a deduction while keeping the rest. For steady, small-dollar investing, you still can't beat common mutual funds, especially those in a 401(k) plan. But exchange-listed, tradable stock funds aren't just another fee-laden profit center for Wall Street. For many investors, their low cost and tax flexibility make them a useful alternative...
Clark is critical of some of his Silicon Valley brethren who haven't been as generous, despite their multibillion-dollar net worth. He hopes his gift will spur other tech billionaires to action, particularly Yahoo founders Jerry Yang and David Filo, who don't discuss specifics of any giving they may have done--and who Clark believes have been too frugal. "These guys actually ran the Yahoo servers out of Stanford," says Clark. "They should be giving something back. These guys are young, but they've got more money than me. Or take Larry Ellison; he should be doing more...
Some of his fellow big-dollar donors have privately equated CNN founder and Time Warner vice chairman Ted Turner's philanthropic choices--in particular his endowment of a $1.1 billion United Nations Foundation--as equivalent to flushing money down the toilet. The U.N., after all, is as renowned for inefficiency and politicization as it is for peacekeeping...
Debt relief is a moral imperative. The U.S. should not stand for the proposition that poor countries where as much as half the adult population will contract AIDS must pay back every last dollar of principal and interest. That would be wrong. Last year I visited health clinics in Bolivia where children were getting vaccinations for the first time because money had been freed up by debt relief. The only thing holding back further relief for places like Bolivia is the U.S. Congress. And remember, debt relief is not charity. It is what the toughest financial institutions do when they...