Word: bond
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...records and the billions it has amassed in box-office and DVD revenues, the Harry Potter series is a proud, mammoth act of commercial, communal filmmaking. It's Hollywood at its finest, though the setting, accent, ensemble cast and most of the creative team are - as with the James Bond films - distinctly English...
...Looking long-term, places like New York and Massachusetts could have some pressure, even though they are relatively highly rated and have passed budgets for this year," says John Miller, chief investment officer of Nuveen Asset Management, which runs, among other things, municipal-bond funds. "Those are areas where obligations are probably growing faster than their revenues." That spend-now-pay-later attitude eventually catches up with a state. Ask California. (Read "Can the U.S. Afford to Let California Fail...
...states, according to the National Association of State Budget Officers and the National Governors Association. And if projections are too rosy again in the just-signed state budgets? Well, then we'll have even more shortfalls to come. "What we're doing is waiting," says Craig Brandon, a municipal-bond portfolio manager at Eaton Vance. "The thing you're going to start seeing over the rest of the summer is whether tax revenues are coming in where states are projecting them to be." Fingers crossed. IOUs ready...
...devout that the mother gives her boy, Yu, a statue of the Virgin Mary and tells him, "Find someone just like her to marry." When the mother dies young, her husband becomes a priest with a gift for applying God's word to his parishioners' lives. The father-son bond is tested when the priest is stalked and seduced by an unstable woman who soon deserts him, leaving this gracious man severe and doctrinaire. How can Yu reconnect with his father? By committing outrageous sins and confessing them to him. This is the first 15 minutes of a four-hour...
...recession or not can miss a lot. "I don't care about what the dating committee says. I'm concerned about longer-term issues," says Yale economist Robert Shiller. "We are in for an extended period of subnormal economic growth." Mohamed El-Erian, chief executive officer of bond-investing giant Pimco, has popularized a catchier if less informative phrase for what we're in for: "the new normal...