Word: classics
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Spitzer's gift is a plain-talking sensibility. He was a brilliant student and a star athlete, but he doesn't connect emotionally with people or ooze charisma like a Bill Clinton. He is attractive, though not in a classic way. His strikingly deep-set eyes underscore his drive and intensity. And his pronounced chin once moved the New York Times to comment, "His jaw actually juts." Spitzer has a cheeky sense of humor. (At the Institutional Investor magazine awards dinner for market analysts in November, he opened his speech by saying, "It is wonderful to be here this evening...
...listened to Bruce Springsteen (he just went to Albany with an ex-classmate to see the Boss for the fourth time). He was elected president of the student body in his sophomore year. Colleagues remember his taking on the university administration over divestiture from South Africa and (a student classic) higher wages for campus service workers...
...telling people they've got mail. None of the news seemed at all fresh this year: Attacking Iraq? Jimmy Carter getting a peace prize? Smallpox vaccinations? Droughts plaguing Western farmers? Liza Minnelli getting married? Axis of evil? Airline bankruptcies? Ozzy Osbourne? It's like CNN was replaced by CNN Classic. In fact, I'm pretty sure they're rerunning old infrared shots of Baghdad. They've got to do something to offset Daryn Kagan's insane salary demands...
...today only 4% of U.S. households have HDTVs, and for years the best advice for those who wanted one was to wait. That created a classic chicken-and-egg situation. Consumers were reluctant to purchase HDTV sets because they were too expensive and there wasn't anything worth watching on them; broadcasters were reluctant to invest in HDTV programming until there was an audience big enough to make it worth their while...
...often borne by society as publicly funded medical costs. This is an example of what economists call a negative consumption externality; the smoker doesn’t pay the entire cost of his habit because he might not cover his increased medical expenses through higher private insurance premiums. The classic solution to this negative externality is to impose a tax that erases the difference between the private cost to the smoker and the social cost to society of his smoking; a tax like this is said to “internalize the externality...