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...generation behind just won't have enough buyers). And your neighbors' children, simultaneously burdened with the cost of your aging and victimized by the one thing you'll hold onto--your political power--will boil with resentment. Your own kids may get especially peevish: even today, says Rand Corp. economist James P. Smith, "half the adult children with parents who die over age 70 get zero. Parents are living longer, with more health expenses. The first thing to go...is bequests to children...
...those who've gone before him. People like Wasserman were multimillionaires before they got into politics. McAuliffe has done it the other way, using his political contacts to become a multimillionaire. In 1995 he acquired a bankrupt home-building business in Orlando, Fla., with the help of American Financial Corp. after soliciting its owner, Carl Lindner, for the D.N.C. "People like to do politics with me, and they like to do business," he says. Now that he's worth tens of millions, he says he's in a position to meet the donors as peers, exchange stock tips with them...
...soon have wireless capability. The Palm VII has a built-in antenna. Flip it up, and you have Internet access. By the end of the year, Palm promises add-ons that will let all its earlier models hook up too. The implications are striking. By 2002, says International Data Corp., the number of people connecting to the Internet wirelessly will surpass the number hooking up through...
...listed people who sold stock before the April dotcom market debacle [BUSINESS, May 1]. We incorrectly listed Julian A. Brodsky, a director of Internet Capital Group, as selling $327 million worth of indirectly held company shares. In fact, the shares were owned by Comcast ICG, a subsidiary of Comcast Corp., of which Brodsky is vice chairman, and all the proceeds of the sale went to Comcast, not to Brodsky himself...
FUNNY FUND NUMBERS Dreyfus Corp. is paying out $3 million to settle allegations that it wasn't being up front with its investors about the risks of its Aggressive Growth Fund. Take note: managers eager to boost the returns of new funds may load up on IPOs, which can later tank. That's what the Dreyfus fund did, gaining 81.92% in its first year but then losing 5.94% its second. So be wary of funds with great rookie seasons; the second time around is much tougher...