Thursday, September 20, 2007

What $200 Million Will Buy in Brooklyn and Elsewhere

So it will cost $200 million to repair the decrepit Coney Island boardwalk. The Parks Department can't afford this amount, according to the Brooklyn Eagle, so it's looking for funds from the city, state and federal government and even private sources. "Accidents are a nearly daily occurrence along the 2.7-mile wooden boardwalk," according to the Eagle.

$200 million sounds like a lot of money to lay pieces of wood down next to each other, even for almost three miles. McBrooklyn wondered what else you could buy with $200 million, just to put it in perspective. Here's a couple of projects we've uncovered:

- A coalition of national governments, the World Bank, UNICEF and other organizations will pay $200 million to help poor countries protect children against pneumococcus and rotavirus. The effort could save some four million children through 2025. International Herald Tribune

- Motorola said on Tuesday that it plans to acquire broadband equipment maker Netopia in a deal worth more than $200 million.

- Oceanex Income Fund, owner of a fleet of East Coast container ships, seeks an investment in two new container ships which could cost in excess of $200 million "for the future of the company." Canadian Press

- The Roman Catholic Diocese of San Diego agreed to a settlement that would pay nearly $200 million to 144 people who have said they were sexually abused by clergy members. New York Times

- BlackRock Inc., the largest publicly traded asset manager in the U.S., plans to raise as much as $200 million for an agricultural commodities hedge fund. Bloomberg

- The U.S. Senate has approved $200-million in aid on September 12 for nonprofit organizations to help homeowners avoid foreclosure. AP

- Snowboard equipment sales among all retailers nationwide accounted for $181 million in sales. (Add in some ChapStick to get to $200 million.) Sun Times

- At the going rate of $500,000 per minute, six and a half hours fighting the war in Iraq costs roughly $200 million. American Friends Service Committee

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