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...difference concerns taxes. As a nonprofit, Harvard receives tax exemptions, deductions, and privileges that for-profit institutions must forgo. For example, besides innovative investing techniques, Harvard was able to build its endowment from $4.7 billion in 1990 to $37 billion in 2008 because it did not pay taxes on those gains. Relative to businesses, the federal government is subsidizing Harvard’s investment fund...

Author: By Laura M. Binger, John F. Bowman, and Benjamin J. Oldfield | Title: Harvard’s Role As a Nonprofit | 5/21/2009 | See Source »

There are now slow-moving inquiries by the Senate judicial and intelligence committees as well as Representative John Conyers' proposal for an investigative commission with subpoena power, currently being considered by the House Armed Services Committee. Meanwhile, Leahy's staffers say the Senator is trying to build bipartisan support for a commission. But he's had little support from Republicans, and the congressional recess will likely slow his efforts. The break may have the same effect on Republican calls - from former Speaker Newt Gingrich to Representative Pete Hoekstra - for investigations into Pelosi's claims...

Author: /time Magazine | Title: Obama: Still Opposed to Truth Commission | 5/21/2009 | See Source »

...Given his film expertise, one might expect Levy to build this biography around an analysis of Newman's films and his place in the cinematic canon. Instead, Levy offers reportage as impressive as his critical insights. Paul Newman: A Life is a layered and absorbing portrait of how the actor's personal life differed from his public persona. Levy paints Newman not just as a movie star but as a determined entrepreneur, family man and racer - a man who admitted mistakes as he made them, took advantage of good luck when it came his way, and did his best...

Author: /time Magazine | Title: Paul Newman: A Life in Movies, Theater and Salad Dressing | 5/20/2009 | See Source »

Creating a new search engine is a tremendous risk at this stage because it's remarkably expensive to build and market one that has any chance in the mass market. To make the proposition harder, not only do people prefer Google to other products, but also most people are not able to tell whether a search product coming to market now is better. Good is so excellent that it is not good anymore...

Author: /time Magazine | Title: What Will the World Do with More Search Engines? | 5/20/2009 | See Source »

...heart of Colombia's coffee belt. Rolling up his sleeves and reveling in the minutiae of crop prices and road-paving projects, Uribe seemed more like an alderman. He cracked jokes, fielded requests for new ambulances and even got into a debate over the best spot to build a small sugar mill...

Author: /time Magazine | Title: Colombia's Uribe: Keeping Up with Hugo Chávez | 5/20/2009 | See Source »

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