Word: minimums
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...exactly one employer, the New York Stock Exchange, in his entire 36-year career. The Big Board chairman gave a hint last week to what's been keeping him there. Mindful of the exchange's push for more openness among its members, Grasso disclosed that he earns a minimum $2.4 million annually. Very nice, that. But he also announced that he would cash out close to $140 million in deferred pay and retirement benefits this year...
...Army units are getting a badly needed transfusion of modern equipment ... By the end of the year the Army will have increased from 856,000 to 1,080,000 men. Three Stateside training divisions are being elevated to combat readiness. Two National Guard divisions ... have been called up ... The minimum aim of the Army is to be able to fight two limited wars simultaneously in such distant corners of the world as Southeast Asia and the Middle East. --TIME...
...interest in coffee instead of cash. Rene de Jong, the managing director of the company's branch in Leiden, brewed the Coffee Savings Account as a way to support coffee farmers in developing countries, staying true to the company's agricultural-banking roots. Customers have to put away a minimum of about $1,000 for a three-year term to collect the annual interest of 12 bags of coffee, each of which contains 250 grams, about 8.8 ounces. That roughly amounts to a 4% return, says the bank, which beats the 3% yield on standard savings accounts. The downside...
...youngsters are part of a middle-class boom in India. The National Council of Applied Economic Research estimates that the number of people living in households that earn at least $1,800 annually--considered the minimum for middle-income families--has increased 17% in just the past three years, to more than 700 million. At this income level, Indian families can purchase motorbikes, televisions and refrigerators. The organization expects the number to rise an additional 24% by 2007. "Income is growing like anything," says R.K. Shukla, a statistician at the National Council. "The future is very rosy in India...
...youngsters are part of a middle-class boom in India. The National Council of Applied Economic Research estimates that the number of people living in households that earn at least $1,800 annually?considered the minimum for middle-income families?has increased 17% in just the past three years, to more than 700 million. At this income level, Indian families can purchase motorbikes, televisions and refrigerators. The organization expects the number to rise an additional 24% by 2007. "Income is growing like anything," says R.K. Shukla, a statistician at the National Council. "The future is very rosy in India...