Word: felling
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Unlike in the 1980s, when oil fell to $8 a barrel, Texas is not heavily dependent on its energy industry, so the state "should have more resistance to, but not immunity from, recessionary conditions," according to state comptroller Susan Combs. When the legislature convenes for its biennial session in January, Texas will have a big surplus, thanks in part to last year's booming oil and gas revenues - one of only nine states...
...announcement comes two weeks after news that Harvard's endowment, higher education's largest, fell 22 percent—or $8 billion—in four months from its June 30 value of $36.9 billion...
...game, we had it figured. And what was the game anyway? The way it was vaguely described to us was that the "New York people" had a system whereby they placed a series of instant trades - at once with futures, currencies and stocks - and out of this magic recipe fell a tiny 1% guaranteed, no-risk profit for the group. You do that 20 times a year, take away management fees and, voilà, a steady 15% return. Man, these guys were good...
...call did come, as it always does with such things. It was not an ordinary Ponzi scheme we were all part of; it was the biggest in the history of the world, valued at some $50 billion. Lucky us. Small investors, institutions, hedge funds, global banks, pension funds - all fell victim to usual suspects: a smooth huckster and greed...
...drop in same-store sales, the largest decline in home values, and the longest decline in purchases since record keeping began. A record that probably drew less attention, though, was the one-day sales record for a computer game. In a month when, despite holiday shopping, retail sales actually fell 1.8 percent, Blizzard sold 2.8 million copies of their new World of Warcraft expansion, “Wrath of the Lich King,” at $40 a pop and in just...