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The $70 million price tag is a small fraction of the $1.1billion the Times paid for the Globe newspaper 20 years ago -reflecting plunging advertising revenues and a shift inreadership from print to the Internet.
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“The only acceptable way out of this is some sort of deal that funds the federal government without funding Obamacare,” said Michael Needham, CEO of Heritage Action, at a breakfast sponsored by The Christian Science Monitor.
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Limited Financial Liabilities: SMI currently has no outstanding borrowings beyond the subordinated loan to its 34.3%-owned subsidiary, IIF. The loan has been provided to IIF via the government and SMI from ADB and World Bank. However, SMI has said it plans to issue IDR1,000bn (USD100m) of debt in FY14 to fund growth. SMI's leverage cannot exceed a regulatory limit of 10x equity, although management has said they will limit future borrowings to 3x of equity. The Indonesian government created SMI in 2009 in response to the need to provide long-term financing for infrastructure projects in the country. Providing long-term financing attracts more private participation in public-private partnership schemes in Indonesia. The sectors eligible for financing from SMI are power, water, roads and bridges, transportation, sewerage and solid waste, irrigation, telecommunications, and oil and gas.
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Twenty-nine establishments, including 13 TGI Fridays, had been accused of cheating customers following state raids in May. The attorney general's office said the state decided to pursue charges against only eight of the TGI Fridays. The other cases remain under investigation. |
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