The World in 2008

In: Business and Management

Submitted By simonique15
Words 89030
Pages 357
EDITOR'S INTRODUCTION
Two big events will frame the year ahead: America’s presidential election and the summer Olympic games in Beijing. The race for the White House will be a marathon, from the front-loaded primary season in January and February to the general election in November. The betting is that the winner will be a Democrat—with a strong chance that a Clinton will again be set to succeed a Bush as leader of the free world. China, meanwhile, will hope to use the Olympics to show the world what a splendid giant it has become. It will win the most gold medals, and bask in national pride and the global limelight. But it will also face awkward questions on its repressive politics. America and China will be prime players in the matters that will concentrate minds around the world in 2008. One of these is the world economy, which can no longer depend on America, with its housing and credit woes, to drive growth. America should—just—avoid recession, but it will be China (for the first time the biggest contributor to global growth) along with India and other emerging markets that will shine. Another focus of attention will be climate change. As China replaces America as the world’s biggest producer of greenhouse gases, serious efforts on global warming depend on the serious involvement of those two countries. If 2007 was the year when this rose to the top of the global agenda, in 2008 people will expect action. It is striking that green is a theme that links all the contributions from political leaders in this volume, whether at the city level (Michael Bloomberg), the national level (Felipe Calderón, Nancy Pelosi, Nicolas Sarkozy) or the supranational level (the UN’s Ban Ki-moon, ASEAN’s Surin Pitsuwan). The politicians have talked the issue up; will they now let people down? A third preoccupation will be geopolitical risk. The conventional wisdom is that America is…...

Similar Documents

World

...for loan loss reserve and classification of securities held in portfolio. Fannie Mae’s improper accounting for loan fees, discounts and premiums is one of the four major concerns of the SEC. companies are required to recognize loan fees, discounts and premiums by SFAS No. 91 as “ an adjustment over the life of the applicable loans, to generate a constant effective yield on the loans.” SFAS also requires that companies to record any changes in fees, discount and premiums to be recognized as either a gain or loss. Fannie Mae on the other hand did not treat the gains and losses of fees, discounts and premiums as the SFAS states they should have. Fannie Mae willingly referred to the gains and losses as catch-up adjustments. During the year 2008 accounting models of Fannie Mae calculated at least four-hundred and nine million so called catch-up adjustments. This was done in the form of a decrease in net interest income. Fannie Mae’s executives directed employees to record on two hundred and forty million of the four-hundred and nine million of the catch-up amount to the year’s income statement. The understatement of the catch-up account understated its expenses and overstated income. Fannie Mae’s improper hedge accounting was also a big concern of the SEC. SFAS 133 required Fannie Mae to “adjust the value of its derivatives to changing market values.” Fannie Mae used it debt to finance several mortgages acquisitions and mortgage securities. The entity also turned to......

Words: 2129 - Pages: 9

2008 Financial Crisis

... 2008 FINANCIAL CRISIS Name Course Date 1. Background The financial crisis commenced in August 2007 after the preceding inflation. The crisis became more defined throughout 2007 and gained momentum in 2008. This took place even after the financial regulators and the central banks’ tireless attempts to tame the situation. It is alleged that the main factors that influenced its manifestation include corruption, fraud, speculation, greed, bankers and bankers’ bonuses. However, the academic discourse, politics or media has been unable to solve the mystery surrounding the main causes of the crisis[1]. The mystery is academically relevant to the world of research just like the Great Depression, whose causes are still being discussed. Other sources believe that the crisis might have been as a cause of human failures especially following the refusal to bail out the Investment Bank Lehman Brothers. The housing bubble was the immediate trigger of the 2008 financial crisis. The following were the triggers under the housing bubble. I. Subprime lending A subprime mortgage is the mortgage that is readily acceptable without imposing strict measures of standard on it. Before the 2008 financial crisis, there existed a fierce competition between mortgage lenders. The competition between the mortgage lenders ensued from the struggle for market share and revenue. It also took place in tandem with limited supply of creditworthy borrowers which put......

Words: 4957 - Pages: 20

2008 Debate

...The presidential debate on October 7 2008 was nothing I was interested in but it was very helpful in some cases to watch. It helped me further my understandings on both of their ideas to help out the mortgage situation. For example, after someone from the audience asked John McCain a question evolving this issue john answered something like “I pledged to require the federal government to renegotiate the mortgages of individual homeowners and make them more affordable.” I personally didn’t fully understand what this meant but at least I got to hear one side, even though I felt some questions answered by John McCain were sort of really not the answers to them, almost like beading around the bush. I also felt like both of them were bashing each other left and right, they kept on bringing issues that I never even knew about nor understood and kept on blaming each other. For example, one of the things I remember was when John McCain said Barack Obama was the Senate's second-highest recipient of donations from individuals at Fannie Mae and Freddie Mac, the two now-disgraced mortgage industry giants. Then I felt like Barack Obama stretch the truth a bit when he said that George Bush and John McCain and others had favored policies to deregulate the financial industry but none of it had worked nor did any thing they had said. They both, I felt were competing to demonstrate their qualifications as reformers on energy and foreign policies, as well as health care. I felt that Barack......

Words: 353 - Pages: 2

Economic Crisis of 2008

...Causes of Economic Crisis of 2008 and its resulting Recession Student’s Name Institution Introduction The economic crisis of 2008 which began in the United States had great impact in the global economy. The economic crisis began slowly and grew into global economic crisis. It has affected the stock markets to the extent of stopping operations. In the US it is an issue which has been used as a campaign tool for presidential candidates to request for votes during their campaigns. Due to the crisis many US citizens have felt its impact and even lost their jobs. The crisis began with the United States housing market and gradually resulted into liquidity crisis (Steil, 2009). It is in this regard that this paper looks into the causes of the economic crisis of 2008 and its resulting recession. Causes of the 2008 crisis and its resulting recession Actually, the United States experienced many serious problems that included frozen money markets, plummeting dollar, banks on the threshold of bankruptcy, declining stock market, high levels of public debt and the impending threat of recession. According to some economists, the economic crisis was mainly affected by the world imbalances, perceptions of interest rates, risks and the regulations of the financial system. The following are the main causes of the economic crisis of 2008: Housing Crash The United States housing market is one of the main......

Words: 1317 - Pages: 6

Cersions of Windows Server 2008

...William Walbuck IT221 Research Assignment Part 1 Windows server 2008 comes in different versions because different versions have different features and price ranges to satisfy individual customer needs and wants. Each version has significant features so that customer may choose which one best suits their business needs. For example; Windows Server 2008 Datacenter delivers an enterprise-class platform for deploying business-critical applications and large-scale virtualization on small and large servers. Improve availability, enhance power management, and integrate solutions for mobile and branch workers. Windows Server 2008 Enterprise is an advanced server platform that provides more cost-effective and reliable support for mission-critical workloads. Windows Server 2008 Standard is the most robust Windows Server operating system to date. With built-in, enhanced Web and virtualization capabilities, it is designed to increase the reliability and flexibility of your server infrastructure while helping save time and reduce costs. Windows Web Server 2008 is a powerful Web application and services platform. Featuring Internet Information Services (IIS) 7.5 and designed exclusively as an Internet-facing server, it offers improved administration and diagnostic tools to help reduce infrastructure costs when used with a variety of popular development platforms. Windows HPC Server 2008 , the Microsoft third-generation HPC solution, provides a comprehensive and cost-effective......

Words: 874 - Pages: 4

Summarised Essay on the Project of Hosting the 2008 Under 20 Women’s Fifa World Cup by the Chile Government. Based on an Extract from a Journal.

...SUMMARISED ESSAY ON THE PROJECT OF HOSTING THE 2008 UNDER 20 WOMEN’S FIFA WORLD CUP BY THE CHILE GOVERNMENT. Based on an extract from a journal. When in 1990 Chile became a democratic state, the Ministry of Public Infrastructure (MOP) in line with the country’s sustained growth and development embarked on the rehabilitation of the decayed public infrastructure. This was achieved through private concessions and working closer with the local city governments. With this in mind, the country led by President Michelle Bachelet aimed at attracting major sporting events. Consequently Chile won the right to host FIFA under 20 women’s world cup. This would be a national project that had presidential backing and priority. An unprecedented challenge however arose in that of the four cities selected to as possible hosts none had stadiums that complied with FIFA’s regulations. Thus the task to build four stadiums from the ground with a timeline of nine months was set. Though the exponential growth in investor funds took care of the project’s financing there was a great deficit in experienced and certified project managers to run the complex projects with aggressive deadlines. The MOP thus needed to strengthen the human capital for the project’s efficiency. The solution for the MOP lay in replacing the outmoded project management principles used for past projects with modern techniques and practices by adopting a structure based on standards from the Project Management Institute (PMI)....

Words: 803 - Pages: 4

Delprøve 2008

...Aflevering 4, 1. delprøve 2008 A The gang leader kept all the money that were stolen at the robbery Der er kongruensfejl, da money er utælleligt og det skal derfor hedde was The gang leader kept all the money that was stolen at the robbery Do you mind to close the door on your way out? “To close” i infinitiv, men da sætningen er i nutid, skal det ændres til closing. Do you mind closing the door on your way out? It is often claimed that men think more logical Logical skal rettes til logically, da logical er et biord, der binder sig op af thinks. It is often claimed that men think more logically My old mother and father lives in Spain Da “mother and father” er i flertal, skal der ikke s på live. My old mother and father live in Spain She has always been interesting in architecture Interesting = Interessant, Interested = Interessered. Der er derfor forkert ordvalg, og det skal være interessered. She has always been interested in architecture Those whom are in favour of the proposal claim that it will help children from poor families Forkert ordvalg lige som før. Der skal stå favor, altså de holder med dem. I stedet for favour, som er en tjeneste / god gerning. Those whom are in favor of the proposal claim that it will help children from poor families. The room was much noisyer than he had expected. Der er vokal ændring i førnutid. The room was much noisier than he had expected. The child was bitten of the dog By indikerer hvem barnet var......

Words: 505 - Pages: 3

The Flood of 2008

...Research Assignment Part V Malisa Holt Instructor: Craig Allebach CRJ-424-A August 23, 2014 I have read and understand the plagiarism policy as outlined in the syllabus and the sections in the Student Catalog relating to the IWU Honesty/Cheating Policy. By affixing this statement to the title page of my paper, I certify that I have not cheated or plagiarized in the process of completing this assignment. If it is found that cheating and/or plagiarism did take place in the writing of this paper, I understand the possible consequences of the act/s, which could include expulsion from Indiana Wesleyan University. The Flood of 2008 June 7, 2008 was a day like no other that Columbus, Indiana residents could recall. Torrential showers inundated the area with 10 inches of rain onto already saturated ground. This event would forever change the lives of hundreds of citizens of this small central Indiana town. The flood caused an estimated $180 million in damage to Bartholomew County homes and businesses, many of them in Columbus (McLaughlin, 2010). This piece details the response efforts of citizens, as well as local, state, and federal agencies. This paper includes the personal account of a law enforcement officer who, working alongside fellow officers, citizens, and business owners, responded to a flash flood that has since been referred to as the hundred year flood. Also included is the recollection of a flood survivor who nearly lost everything he owned. ......

Words: 3350 - Pages: 14

Google in 2008

...    Case Study ­ GOOGLE in 2008    1. Why has the pay­per­click search business grow so rapidly?  The reason have to start with Gross’ way thinking, as GoTo.com broke down in to  two strategies to attract advertisers: First, they charge advertisers only when somebody  clicked on a link and was directed to the website, this is the launching point of  pay­per­click, which would make advertisers easier to evaluate their performance of the  ads, rather than spending lots of money without knowing the real ROI. Second, the  GoTo.com priced the keywords low ($0.01 per click), therefore attracting many audience to  join the network, and being the affiliates. Once this efficient business model be used by  more advertisers, it will definitely grow rapidly.    2. Analyze the competitive structure of the market for search based on advertising.  What are the implications of this structure for the long run profitability of players in  the market?  The market for search based on advertising is profitable because it charges the  advertisers, not the users. If the market makes profit by charging its users, the users may  normally choose to use the search engine that charges the least, leading to a price war in  the long run. Conversely, if the market makes profit by charging the advertisers, things will  go differently. The advertisers are aimed at attracting more people to see their ads, as a  result, they are willing to pay for their ads as long as the price is affordable. In addition, ...

Words: 1022 - Pages: 5

Automotice Crisis 2008

...Automotive industry crisis of 2008–2010 Team members: Ahmed khaled said 20080044 (searching and collecting the cases and all the data that we need it from the internet) Maged mohsen el-wakeel 20080631 (summaries the case and the data that we got it) Moaz abdel raheem 20080626 (typing the project at word) Ahmed gamal 20080400 (he did the outline. also he organized the shape of the project and work in the presentation slides and the design of it.) Summary The automotive industry crisis of 2008–2010 was a part of a global financial downturn. The crisis affected European and Asian automobile manufacturers, but it was primarily felt in the American automobile manufacturing industry. The automotive industry designs, develops, manufactures, markets, and sells motor vehicles, and is one of the world's most important economic sectors by revenue. The term automotive industry usually does not include industries dedicated to automobiles after delivery to the customer, such as repair shops and motor fuel stations. The Automotive industry has had a large outcome in production over the past 20 years. The downturn also affected Canada by virtue of the Automotive Products Trade Agreement The Canada—United States Automotive Products Agreement, commonly known as the Auto Pact or APTA, was an important trade......

Words: 1593 - Pages: 7

Financial Crisis 2008

...Banking Academy | City University of Seattle | CORPORATE FINANCE THE GLOBAL FINANCIAL CRISIS 2008 Group’s member:Nguyễn Như Nam (C)Phan Thu AnNguyễn Thùy DungHoàng Bá SơnNgô Thị Ánh TuyếtDate: 28/11/2014 | AbstractIn 2008 the world was fell into the worst financial crisis since the Great Depression of 1929-1933. Although this crisis has gone, however, its consequences for the economy of many countries is very serious, even now many nations are still struggling to escape difficulty. Just in a short period, the crisis originating from America has spread to all continents. It led to a series of serious consequences such as the falling in stock markets, increasing in unemployment rates, large financial institutions had been collapsed or bought out, and governments in many strong countries had to come up with rescue packages to bail out their financial systems. So why does it have tremendous destructive power? What are its causes and its development? What are the consequence it bring to the world? And what are the lessons drawn from this terrible event? Derived from these questions above, this paper will generalize about the global financial crisis 2008. | Table of Contents Abstract i 1. Background 1 2. Reasons 2 2.1 The housing bubble 2 2.2 Fed had lower interest rates for a long time. 2 2.3 The subprime boom 3 2.4 Securitization (MBS, CDO) and Credit default swaps (CDSs) 3 2.5 The credit rating companies. 5 2.6 Structured investment......

Words: 5972 - Pages: 24

Financial Crisis of 2008

... Financial crisis of 2008 Student’s Name University Affiliation Financial crisis of 2008 The financial crisis of 2008 resulted to the greatest recession. This was after the great depression that had happened in 1929. This happened even after the treasury department and the Federal Reserve aggressively trying to prevent the United States system of banking from collapsing. The first suspicion of what caused the financial crisis was when the housing prices started to drop from 2006. This was a red light that the economy was in trouble. Nevertheless, realtors were relieved at the time. There was hope that the housing market that was overheated would securely go back to a level that is more sustainable. The realtors did not realize is that the number of people who owned homes with credit that was questionable had loans for 100 percent or even more of the value of their homes. What banks had done is that they had resold the mortgages in packages as a part of mortgage backed securities. Primarily, the Federal Reserve was thinking that the damage from the crisis of subprime mortgage will remain secluded to housing. However, prevaricate funds and other financial institutions all over the world had ownership over them. They were in pension funds, corporate assets and mutual funds. Given that the initial mortgages had been cut and sold again in parts, then the actual derivatives became......

Words: 1462 - Pages: 6

On 6 September 2008 Turkish President Abdullah Gul Attended a Soccer World Cup Qualifying Match in Armenia.

...Geopolitics for business Mini workshop On 6 September 2008 Turkish president Abdullah Gul attended a soccer world cup qualifying match in Armenia. 1- Why was this visit significant? The history has shown a lot of problems between ethnies in Turkey mainly with Armenian genocide: in 1915 two thirds of Native Armenians in Turkey were deported and exterminated. Turkish government never accepted to recognize its fault as a “genocide”. This visit shows that the Turkish government is however ready to make efforts toward Armenia. The two countries have no diplomatic ties. It was the first time that a Turkish leader went into Armenia since the independency in 1991. 2- Was there more to this story (“footie”) than meets the eye? The main goal of this meeting is to enhance the diplomatic relations because the two countries do not have diplomatic ties even if they have recognized each other. 3- What was the state of Turkish-Armenian relations in 2008? They recognized each other but do not have established diplomatic relations. 4- Characterise the geographic situation of these 2 countries. How might this impact on political relations (show on a map) Turkey and Armenia have common borders so they are neighbours. Turkey is a board crossing area for several countries in order to access to the sea. A long mountain chain is separating the two countries so the exchanges between both countries are insignificant. Bad political relations are settled since......

Words: 486 - Pages: 2

2008 Beijing Olympic Games

...Olympic slogan Slogan of the Beijing 2008 Olympic Games - One World, One Dream (One World One Dream), embodies the essence and the universal values ​​of the Olympic spirit - unity, friendship, progress, harmony, participation and dreams, to express the world inspired by the Olympic spirit, pursuit of common aspirations for a better future. Although human beings of a different color, different languages, different races, but we share the charm and joy of the Olympic, the common pursuit of "the ideal of peace, we belong to a world, we have the same hopes and dreams. "One World One Dream" (One World One Dream), a profound reflection of the core concept of the Beijing Olympic Games, reflecting as a "Green Olympics, Scientific Olympics and Humanity Olympics" the core of the three concepts of the human soul, the harmony inherent in the Olympic Games of values. Building a harmonious society and achieving harmonious development is our dream. "Heaven" and "harmony" is the Chinese people since ancient times, man and nature, the ideal of a harmonious relationship between human beings and the pursuit. We believe: peace and progress, harmonious development, harmony, cooperation and win-win and the good life is the common ideal of the world. "One World One Dream" (One World One Dream), the text concise deep, is of China, the world's. Slogan expressed the Beijing people and the Chinese people and peoples of the world there are beautiful homes, share the fruits of civilization, the lofty...

Words: 988 - Pages: 4

Toyota 2008

...EXECUTIVE SUMMARY In 2008, Toyota was ranked the world’s number one in motor vehicle production volume with more plants opening in Canada, USA and Mexico. Due to the worldwide recession, Toyota sales dropped tremendously, thereafter. Beginning in early 2010 Toyota’s sales, and stock price dropped again due to accelerator and brake problems with a number of their cars. People were afraid to drive and purchase the 2010 Prius as the brake problems occurred mainly in this line of car. Toyota was no longer ranked number one in motor vehicle production due to the problems the company faced in 2010. Currently in 2011, Toyota is concerned about how well the Lexus RX 330/350 has done in the North American market? Due to this matter, the operation management team has produced a report that concerns the Toyota Motor Company’s North American Lexus production decision made a few years ago and the production of Toyota’s strategy for North America. This report includes a critical assessment of the Toyota Production System (TPS), which will be used to demonstrate the basic understanding of the TPS and describe the TPS as a total entity. This report also includes a grid analysis which will be used to help make the North American plant location decision for the Lexus RX 330 Line by listing the key factors as either exogenous or endogenous, stating any relevant assumptions or constraints, and assigning two scores to each factor: one for production of the Lexus RX 330 at the Toyota......

Words: 380 - Pages: 2

Gaming Live : Pokémon Let's Go Pikachu / Evoli : Une progression plus simple et accessible | 男性のブーツ | SlySoft CloneDVD v2.9.2.7 Final.