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By 2018 fixed departmental spending which excludes variable payments such as social security will have fallen by some £85 billion, or 21%, from its 2009 peak (see chart).
Mr. Doyle, 52, is now worried that he will have to file for bankruptcy, because he cannot afford to make the higher variable payments on his mortgage, and he cannot sell his home for more than his $740,000 mortgage.
For example, a company that has issued debt on which it pays a floating rate of interest might decide that, in order to guard against a change in interest rates, it wants to swap its variable payments for someone else's fixed rate of payments.
Clinkle began exploring a sale of its variable payments rewards system and Stanford-based engineering team.
What politicians and bureaucrats have always ignored is that high remuneration levels in the financial sector - and especially substantial variable payments - serve to minimise fraud levels, retain talent, drive high performance and encourage continuity of employment.
This scheme is given by a zero fixed payment upon liquidation ((beta _0 = 0)), and a combination of fixed and variable payments conditional on the continuing value (CV(theta, varepsilon ) = 2 theta + varepsilon) written as (B^{mathrm{fb}} + beta _1^{mathrm{fb}} CV(theta, varepsilon )) in the case of continuation.
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Under the deal, Enron owes Mahonia a variable payment on March 26, which equals the variable payment owed by Mahonia to Morgan, which equals the variable payment owed by Morgan to Enron, all due on the same day.
Half of a variable payment should be paid in one of these instruments.
That money, then, would go to J. P. Morgan to meet the variable payment obligation of Mahonia.
The only way the variable payment would come into play would be if Enron defaulted on its obligation.
Ultimately, Enron was required by the three legs to do nothing more than give the variable payment to itself.
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