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Hidayat Ali's story is one of blackest despair, and unconquerable hope. In late December 2004, the native of Banda Aceh, the capital of Indonesia's Aceh province, withdrew his life savings from the bank - a $40,000 cash payment on a new shop. A few days later, Hidayat was out with his family when he heard news of an earthquake. He rushed home to drop off his family, then went to check on a friend on the other side of town. Minutes later, the waves struck, washing away everything Hidayat held dear: his wife and two children, his house...
Hidayat Ali's story is one of blackest despair, and unconquerable hope. In late December 2004, the native of Banda Aceh, the capital of Indonesia's Aceh province, withdrew his life savings from the bank - a $40,000 cash payment on a new shop. A few days later, Hidayat was out with his family when he heard news of an earthquake. He rushed home to drop off his family, then went to check on a friend on the other side of town. Minutes later, the waves struck, washing away everything Hidayat held dear: his wife and two children, his house...
Meanwhile, with home equity credit lines drying up, Americans have also become more reliant on their credit cards than ever. Overstretched consumers might be forced to bail on their mortgage - even if it means losing their home - but they'll continue to make the minimum payment on their credit cards, because that is their only safety net left. While default rates on subprime mortgages can be as high as 30%, the highest default rates being reported by card issuers is just 5%. Despite fears that the credit-card industry is poised to become the next subprime debacle, it is still...
...this transition in gear,” Boudrow said. “We are still seeing a relatively high percentage of uninsured still coming.” Massachusetts’ fund for paying for uninsured patients—the Health Safety Net Trust Fund—provides a fixed payment to all the hospitals based on the level of free care the hospital is expected to provide. But an unexpectedly large number of uninsured patients can blow a hole in hospitals’ books if the payment from the trust was assessed at a lower rate. Boudrow said that funding...
...change in the definition will be at the heart of this lawsuit,” Stein said. “Under our interpretation she remains qualified for benefits. Under Harvard’s she loses benefits.” McGahey, who declined to comment for this story, is seeking payment of her benefits from June 2006, when Harvard ceased payment, until she recovers from her disability. Before she stopped working, McGahey earned a salary of over $100,000. Under the terms of the University’s employment plan, McGahey began receiving long-term benefits after six months of disability...