Word: darden
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...Darden Restaurants Inc., a firm based in Orlando, Fla., that runs nearly 1,800 Olive Gardens, Red Lobsters and other outlets, continues to dish out $100,000 in annual cash support to the local ballet, a 35-year-old outfit whose budget is under pressure. "Darden has been gold to us, absolute gold," gushes Sibille Pritchard, the Orlando Ballet's loquacious president, "when the climate for the arts is tough, very tough." Notes Darden spokesman Bob McAdam: "You can't give up on the arts. They're essential to the general welfare of the community...
...also, says Robert F. Bruner, dean of the University of Virginia's Darden School of Business, a classic "prisoner's dilemma." In game theory, the dilemma involves two arrestees deciding whether to squeal. Here it's about whether to pull your money from the market. For each worried individual, the rational answer is yes, but the financial system is far better off if everybody agrees not to. The invisible hand of the market can't deliver the best outcome; collective action, Bruner says, is the only good answer...
Bruner has been thinking about this a lot lately because he has co-written, with his Darden colleague Sean D. Carr, a fortuitously timed new book titled The Panic of 1907: Lessons Learned from the Market's Perfect Storm. That year saw a string of bank failures and a stock-market collapse that was halted only when J.P. Morgan browbeat his fellow moguls into ponying up cash to stop the panic. The 1907 crisis in turn led to the creation of the Federal Reserve, which was supposed to do what Morgan did, only more reliably...
...controversial books “Nigger: The Strange Career of a Troublesome Word” and “Interracial Intimacies: Sex, Marriage, Identity and Adoption.” He also cited some examples of figures who have been labeled as sellouts—such as Christopher Darden, an African-American prosecutor in the O.J. Simpson case, Clarence Thomas, Malcolm X, Martin Luther King, Jr., and himself. “The idea of racial betrayal has been and remains a significant force in African-American life,” he said. Kennedy opened up the floor for student input, especially...
...crimson trails of double-decker buses that brighten London's streets? I think a lot of east Londoners decided to take a well-deserved summer Friday off. As for me, I made it to the office in 30 minutes, and thanked the skies it wasn?t raining. -Jene? Darden...