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...hurt badly and are coy about when they think the situation will improve. Large companies have gotten into the habit of saying that they cannot forecast earnings because they have "limited visibility." In most cases that means they cannot predict their sales beyond the current quarter. (See pictures of Bill Gates' early years...
Troubled financial institutions that recruit heavily from Harvard may soon face restrictions on hiring international students if they accepted federal bailout funding. Under a recently passed amendment to the federal stimulus bill, companies participating in the Troubled Assets Relief Program—a government financial-rescue plan implemented last fall—will face more restrictions in hiring H-1B visa holders, foreigners with at least a bachelor’s degree and “highly specialized knowledge” in a particular field. Firms affected by the amendment—including nearly all large investment banks?...
...That doesn’t mean that cooperation on climate change will be easy. Only since Obama’s inauguration has the U.S. begun to get serious on climate change, and even so we are unlikely to see a bill pass the Senate and the House before 2010, owing as much to Democratic opposition as Republican. For years the U.S. has refused to commit to emissions cuts if China wasn’t willing to do the same. China has deferred action, claiming that, until recently, it was a developing country making a negligible contribution to the current problem...
...Obama prepares to convene a health-care summit at the White House later this week, Administration officials are signaling that he intends to pursue a very different strategy for getting reform passed from the one used by his Democratic predecessor in office. Unlike the failed effort of 1994, when Bill and Hillary Clinton presented Congress with a detailed blueprint for reform - and never saw a bill reach the floor of either the House or Senate - Obama is outlining broad principles, with a bottom line of universal coverage, and leaving it up to lawmakers to fashion a plan for meeting them...
...with Iowa Senator Chuck Grassley, the ranking Republican on Finance. The two have had weekly lunches for years, he said, "almost to the point where, if you were a fly on the wall, you'd think it was one office." Although the lack of Republican support for the stimulus bill was widely seen as a bad omen for bipartisanship in the bigger endeavors ahead, Baucus said that Grassley has assured him that Republicans are anxious to work with Democrats on health-care reform. "The real effort is to keep this bipartisan," Baucus added. "The assumption here is to find...