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...Selling failed banks is never a profitable business. But recently, as the credit crunch has gotten crunchier, the cost of cotton-balling kaput countinghouses has gotten a lot costlier. The FDIC had an average loss (based on deposits) of nearly 30% for the 23 bank deals it did in 2008, for which the FDIC released details, according to financial industry consulting firm Ely & Co. That is more than double the average loss of 13% the agency registered on bank rescues in the 17 years prior...

Author: /time Magazine | Title: Can the FDIC Handle Its Growing Job? | 1/19/2009 | See Source »

...solar projects just as it has almost every other facet of the economy - the only difference is that many solar manufacturers don't have the cash reserves to ride out a long downturn. That could leave the U.S. shorthanded on solar at the very time when it's finally gotten serious about renewables. "This is still a capital intensive business," says Harris. "Either you have the money and the project will happen...

Author: /time Magazine | Title: Solar Power Needs a Bailout Too | 1/18/2009 | See Source »

...gets in return for such colossal aid. The largest American banks had market capitalizations of as much as $300 billion each two years ago. The purchase of bad assets when stock values were at those levels would have kept shareholder dilution at a reasonable level. The government would have gotten shares for taking the junk off bank books and putting it into its new "bad bank" agency...

Author: /time Magazine | Title: Building A $1 Trillion "Bad Bank" | 1/17/2009 | See Source »

...expected to fall further this year, but Future Heathrow, a coalition of businesses and trade unions with interests in the aviation community, says additional capacity will be needed further down the line. "The U.K. needs to fight in the global market like any other country, and that market has gotten a lot tougher recently," says Baroness Jo Valentine, the chief executive of London First, a lobby group that campaigns for investment in London. Other advocates point out that the $13 billion expansion is vital to help Heathrow stay ahead of rival hubs in Paris, Frankfurt and Madrid, and that...

Author: /time Magazine | Title: Heathrow's Expansion: A New Kind of Blitz in England | 1/17/2009 | See Source »

...Commercial airports like New York City's J.F.K., meanwhile, have gotten just as creative: hawks and falcons, which fly solo and are therefore less dangerous, are released near runways to scare away flocks of seagulls and geese. Other airports hunt and destroy birds' nests and eggs...

Author: /time Magazine | Title: The US Airways Crash: A Growing Bird Hazard | 1/16/2009 | See Source »

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