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The step is never just the step.
The step is part of a bigger overhaul of UBS's compensation system, they said.
The step is intended to prevent the government from printing money to meet its budgetary needs.
The step is controversial and, some lawmakers and economists argue, counterproductive.
The step is a tiny one, but the questions it raises are not.
The step is part of the bank's continuing $4.3 billion cost-reduction program.
Environmentalists say the step is necessary to maintain the health of the Guadalupe and the estuary at its mouth.
The step is significant mostly as an indication of the maturing corporate culture and psychology at Microsoft.
But American officials say the step is an important one to rebuild Iraq and, in effect, democratize the economy.
Deregistering is required when moving out, but the step is easily skipped, especially for those with no intention to return.
"The fact of the matter is, the step is nominal; what is it intended to do?" Mr. Andres said.
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