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...China Investment Corp.) invested $5 billion for a 9.9% stake in Morgan Stanley (for which the bank must pay CIC a 9% annual dividend until 2010). On paper, that investment is now down more than 25%. Worse, Beijing paid $3 billion for a piece of the Blackstone Group just ahead of the private-equity firm's initial public offering last June - an investment that occurred about a nanosecond before the so-called subprime crisis began annihilating value on Wall Street and beyond. Fairly or not, the Blackstone stake has since become the symbol in China of a naive bunch...
...protagonist is searching the river for the body of his wife, who may or may not have drowned herself. Despite the gravity of the main character’s situation, he remains placid, just like the river Welty describes: “The sandbars were pink or violet drifts ahead. Where the light fell on the river, in a wandering from shore to shore, it was leaf-shaped spangles that trembled softly, while the dark of the river was calm.” Welty explores the full scope of humanity in her stories, despite the profound racial tensions...
...hurricane, to wreak so much havoc. While Akinfenwa said that his family boarded up the windows for Hurricane Rita in September of 2005, they did not do so for Ike. In preparation, Kodama’s family had only bought food for a few days. Tough times remain ahead for Houston. Kodama and other Houston residents are waiting for the power and water to return, and authorities have imposed a 9 p.m. curfew on the city to ensure safety. Meanwhile in Cambridge, students said they are making sure to stay in touch with loved ones. Akinfenwa calls home daily, despite...
...Livni has her work cut out for her. In the days ahead, the new party head will try to lock up support from Kadima's current coalition partners - the dovish Labor Party, a group representing pensions and the ultra-Orthodox Shas Party - which could give her a slim majority in the 120-seat Knesset, or Israeli parliament. But Shas is making demands on Livni, such as pushing for an increase in child allowance (ultra-Orthodox families tend to be large) and making state education more religious. If Livni bends to Shas' demands, Labourites are threatening to walk...
...favorite hobbies is playing the drums. Her apartment neighbors are probably grateful that now that she is the leader of the Kadima Party and en route to becoming Prime Minister, she won't have time to bang away. But it will be one long drum roll in the weeks ahead to see if Livni can form a new governing coalition...