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...also, at least in the minds of many angry investment bank CEOs, a long time coming. In the months leading up to the current market chaos, the short sellers have been on the prowl. But now the witch hunt has begun. The shorts nailed Lehman and Bear Stearns by betting that their shares would continue to fall. And now they have Morgan Stanley and Goldman Sachs in their sights, sparking speculation that the last two remaining go-it-alone investment banking giants may have to find a deep-pocketed commercial bank to partner up with. "What's happening out there...
...weak economy this year, as there is sure to be a reduction of job openings in the popular finance sector (last year, 20 percent of graduates went on to work in financial services or management consulting ). Fortunately, well before the economy’s recent plunge, OCS had already begun work on this year’s initiative: a push entitled “turning up the volume on diverse career options” that is intended to make students aware of job offerings in areas other than investment banking and consulting. OCS has restructured and expanded its offerings into...
...liked what I heard—and found myself in complete disbelief. Atonal music in China that wasn’t Beijing opera? Really? I was soon paying just as much attention to the band as I was to the crowd: the rock and roll ragamuffins before me had begun to beat each other up. They pushed and shoved and fell down and sometimes didn’t get back up for a while. One of them was a female co-worker, so embarrassed that she was at the concert (and drunk) that she did not make eye contact with...
...periodic series of indications that "Americans live in an enchanted world," and engage in a kind of casual mysticism independent of established religious ritual, doctrine or theology. "There is," he says, a "much broader uncharted range of religious experience among the populace than we expect." Just possibly, Baylor has begun to chart...
...potential job losses in India reach as high as 25,000. Tata-AIG, an Indian joint venture with troubled U.S. insurer AIG, has been asked by Indian insurance regulators to show proof of its solvency. The market turbulence is especially worrying for India's middle classes, who have just begun investing on their own in a big way. (A new Bollywood movie, Saas, Bahu aur Sensex - Mother-in-Law, Daughter-in-Law and the Sensex - captures the craze.) Bhandarkar, an avid investor himself, is worried: "How can a $60 billion loss not have an impact?" When it does, the party...