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...final submissions to the IOC this week - are also wary of the downturn. Chicago's plan for the Games rests almost entirely on contributions from businesses, foundations and individuals. "The private funding initiatives on behalf of the general public [are] a well-established precedent in Chicago," says Patrick Ryan, chairman and CEO of Chicago 2016. Ryan remains optimistic that Chicago can raise enough money should it win the Games, not least because Chicago's proposed athletes' village would be located on a prime waterfront site that would be "extremely attractive for private development...
...Andy Hornby, the former chief exec of HBOS, which was taken over last year by rival Lloyds to prevent a run on the bank, said he was "extremely sorry for the turn of events." Dennis Stevenson, Hornby's chairman at HBOS - which, along with Lloyds, got a $25 billion bailout from the government in return for 43% of the combined group - was "profoundly and unreservedly" apologetic. And really giving it his all, Fred Goodwin, ex-boss of the Royal Bank of Scotland (RBS), rescued by British taxpayers last fall with an even bigger bailout, said he "could not be more...
...Board in a press conference held in Washington on Friday. Feldstein, a former Reagan administration economist, served as President of the National Bureau of Economic Research from 1977 to 2008. NBER studies the U.S. economy and is the well-respected authority on markers of recessions. Ferguson was the vice-chairman of the Federal Reserve Board from 1999 to 2006 and is currently serving in his final year as a member of the University’s governing body. Pritzker, an heiress to the Hyatt dynasty, is the founder and CEO of Hyatt Classic Residence, and was named...
Read TIME's 2-Min. Bio of Commerce Secretary Judd Gregg Read TIME's 2-Min. Bio of New African Union Chairman Muammar Gaddafi
...event, it's likely that the tanks will stay in Kenya. "There has been a lot of controversy on where the military tanks were destined," committee chairman Adan Keynan said Friday. "To ensure accountability to the Kenyan people, the Ministry of State for Defense should ensure that the clearing process is open and transparent. Kenyans want to know the end user of the cargo...