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5/13/2008
We will pay. The shrinking of the municipal bond industry means it is going to cost more for states and localities to borrow money. That means the tolls, fees and taxes that support the debt are all going to have to rise. You can't expect two of the top 10 underwriters of bonds to disappear without consequences. UBS AG said it was getting out of the municipal bond business on May 6. Bear Stearns Cos. is being absorbed by JPMorgan Chase & Co. We don't quite know how these two events are going to play out -- UBS is apparently transferring a number of municipal bond traders into its wealth-management division -- but taking away two major bidders can't be good news. (Source: Bloomberg)
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5/13/2008
It is clear now that the climb in oil prices is not over. We are already close to $125 a barrel, and $150 may not be that far away. First, understand the United States does have an energy policy. The policy may have problems, but it is ambitious and moves the country in the right direction. Let's start with conservation: The new fuel-economy standards being set by the U.S. Department of Transportation--35.7 miles per gallon for cars and 28.6 for trucks by 2015--must be the most ambitious targets ever set by anyone. I doubt they can be met, but you can be sure we'll make huge gains over current economy standards. The country also has a target to produce 36 billion gallons of biofuels a year by 2022. (Source: Forbes.com)
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5/13/2008
Among the assets US Airways (LCC: Charts, News, Offers) would bring to a merger is one that its potential partner totally lacks -- an aircraft order. If United (UAUA: Charts, News, Offers) were to merge with US Airways, it would gain access to an order for 92 narrowbody and widebody Airbus aircraft, with a list price around $10 billion, making the France-based airplane maker a likely winner if the two carriers successfully complete a deal. That would mean Airbus could become the primary supplier for one of the two biggest U.S. airlines, a position it has never occupied. The jury is still out, however, on whether Boeing (BA: Charts, News, Offers) or Airbus would benefit more from a proposed merger between Delta (DAL: Charts, News, Offers) and Northwest (NWA: Charts, News, Offers).
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revenue
For a company, this is the total amount of money received by the company for goods sold or services provided during a certain time period. It also includes all net sales, exchange of assets; interest and any other increase in owner's equity and is calculated before any expenses are subtracted. Net income can be calculated by subtracting expenses from revenue. In terms of reporting revenue in a company'... MoreFor a company, this is the total amount of money received by the company for goods sold or services provided during a certain time period. It also includes all net sales, exchange of assets; interest and any other increase in owner's equity and is calculated before any expenses are subtracted. Net income can be calculated by subtracting expenses from revenue. In terms of reporting revenue in a company's financial statements, different companies consider revenue to be received, or "recognized", different ways. For example, revenue could be recognized when a deal is signed, when the money is received, when the services are provided, or at other times. There are rules specifying when revenue should be recognized in different situations for companies using different accounting methods, such as cash basis and accrual basis.
For the government, the increase in assets of governmental funds that do not increase liability or recovery of expenditure. This revenue is obtained from taxes, licenses and fees.
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"Beware of past performance proofs in finance. If history books were the key to riches, the Forbes 400 would consist of librarians."
Warren Buffett
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May 13, 1999 Treasury secretary Robert Rubin resigns after presiding over an unprecedented period of economic strength and stability:
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