"Its costs are vastly over-stated by its opponents, amounting only to 0.5% of the defence budget over its lifetime, " he told MPs.
Micklethwait also believes Bakan has under-estimated the historical significance of companies and over-stated the influence of their modern successors.
Unfortunately, history has repeatedly illustrated the folly of using forward-earnings estimates, which are typically over-stated by anywhere from 10-20% on average.
There are other Duke family trusts for them as well, but chances are pretty good that the one-billion dollar figure is over-stated.
Some prominent German economists believe the risk of contagion is over-stated.
He contends there was a significant inventory build across the technology supply chain in the first quarter, leading to Q1 results which over-stated results versus real end market trends.
Even here the US number is (marginally) over-stated.
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Prime Minister John Howard stated over the weekend that Australia would take pre-emptive action against terrorists in neighboring countries.
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"The results are revealing and contrary to what KBR and its president have continuously stated over the past year, " Cheryl Harris said.
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Central Bank president Alexandre Tombini has stated over the past few weeks that the monetary policy stance has changed and while the BCB will remain vigilant, it will act in a cautious manner before raising rates.
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Now the challenge stated over and over again is to make it possible for young people of more modest means to borrow against their imputed wealth - the wealth that presumably they would gain privately if they had an opportunity to fully develop their inherent talents and abilities.
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And the report also stated that over-optimism among defence chiefs and the defence industry led to unrealistically low estimates of the cost of major pieces of equipment, which later have to be revised upwards during production.
On Friday, a Bank of China official stated that, over the next five years, the Chinese would phase out the conversion restrictions presently in place on the yuan.
That move, privately lamented by most government ministers, not only puts a question mark over Ms Bachelet's stated commitment to more open government, but also poses a potential threat to accountability.
Raymond Chabot Grant Thornton, a firm that deals with assurance, taxation, consulting and recovery and reorganization services stated their uncertainty over the bill in part of their global study on the mining sector released last week.
" If the court strikes down Obamacare, Rosen argued, Roberts' "stated goal of presiding over a less divisive court will be viewed as an irredeemable failure.
The cancellation of games has seemed to be a fait accompli for over a year ever since owners stated their intentions to reduce salaries by 35%.
He also notes the increased sway that faculties now hold over university administrators, which often cause big capital projects to run over budget to satisfy professors' stated requirements.
Apple may be undercounted since in March 2012 China Mobile stated that there were over 15 million iPhone users on its network even though China Mobile does not sell the iPhone.
The selection by 47-year-old Burns, who took over after the resignation of Berti Vogts, was under particular scrutiny as he has stated that he could be interested in taking over from the German permanently.
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The stated unemployment rate is over 8%.
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Simply stated, willpower is horribly over-rated.
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Fong stated that RET filed its request over the summer, but emphasized that the request is a process, in which there is considerable back-and-forth between the IRS and RET.
Of the remaining potential jurors addressed by judge Howell, they let out a collective gasp when he stated that the trial would last over two months (until the end of May).
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The 51-times capped Welshman has already publicly stated how he would 'walk over hot coals' to replace Martinez, who is set to replace Steve Bruce at Premier League Wigan Athletic, at his home-town club Swansea.
"The crew stated they were in a heated discussion over airline policy and they lost situational awareness, " the board said in a news release.
" Cole was referring to NTSB's earlier statement that said, "The crew stated they were in a heated discussion over airline policy and they lost situational awareness.
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To be registered to vote in the by-election people must be 16 or over by election day, resident at the address stated on the registration form and resident in the Isle of Man for at least one year.
Currently the assembly government has legislative powers over the trains and the UK government has the powers for the tracks and Mr Cole stated that there would be "a stronger possibility of integrating both" should the assembly have the powers over the whole department.
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