Word: interestingly
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Back at Ganley Chevrolet, the dealership's bank announced in a meeting yesterday morning that it will increase the floor plan rate - the interest on money that car dealers borrow to buy new inventory - by 1.5%. "Which forces me to have less inventory on hand," says Jim Helton, the general manager. "That makes it harder for me to sell cars, because I'm giving people fewer choices." The dealership's owners were planning this summer to spend millions of dollars on a complete renovation and expansion of the façade, showroom and service area. Rising credit costs, combined with...
...unseen since the Great Depression. And at the Treasury, Paulson appointed a 35-year-old former Goldman Sachs banker as temporary head of the agency charged with using the $700 billion to lift bad loans out of the financial system. The banker, Neel Kashkari, immediately took bids from companies interested in running a market to price the bad loans. On Wednesday morning, in a surprising move, the Fed announced a half-point interest rate cut in unprecedented coordination with central banks in Asia and Europe...
...effect. First came an early-morning announcement by the British government that it had crafted a $90 billion rescue package for its banks. Then five central banks from around the world, including the two big ones - the U.S. Federal Reserve and the European Central Bank - announced a cut in interest rates. Jean-Claude Trichet, president of the European Central Bank, described the cuts as an "important mark of confidence" that showed an "intimate cooperation" among monetary authorities around the world. Under normal circumstances, such measures would have bucked up moods and stock prices in financial centers across the globe...
...level especially, off-cycle election days exacerbate already low participation rates. As such, all possible efforts should be made to move elections for local officials—such as members of city councils and school boards—to the federally-recognized election day. It is in the best interest of both the country and the citizen to obviate as many impediments to democratic participation as possible...
...percent of those who didn’t vote in 2004 failed to do so because of a scheduling conflict; some were merely apathetic, others illiterate, and still others indecisive. Political participation is the bedrock of American democracy, and those citizens abstaining out of mere lack of interest should remember that their vote, however insignificant it may seem, does actually matter...