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...Burma's Plight Cyclone Nargis' death toll is astonishing. Over 100,000 people ought not die from such a disaster. In Bangladesh we deal with floods and cyclones every year. But the Burmese junta is blind and deaf and selfish. The generals have sealed themselves off. News from halfway around the world comes to us here in Bangladesh faster than whatever trickles in from across the border with Burma. Let's hope that the horrors of this disaster will lead to the opening up of the country and a respite for its millions of suffering people. Solaiman Palash, Dhaka...
...thinks money-making and good works can be mutually beneficial. Akula runs SKS Microfinance, India's largest microfinancier, which is at the forefront of the new-money trend. Last year SKS sold an $11.5 million stake to the private-equity shop Sequoia Capital in a first-of-its-kind deal. Talk of a projected 23% return on equity snapped many financiers to attention...
...reach 4 million customers like those in the village of Veeravelly, who have been using loans for projects like buying buffalo and opening a welding shop. "Unless we have capital markets interested in microfinance, there's no way we could get to that many borrowers," says Akula. A deal in which Citigroup will buy $44 million in loans off SKS's books, for instance, is expected to help SKS reach 200,000 people across 7,000 villages. Among the beneficiaries are women like Parajata, a widow in Veeravelly who was working as a day laborer and barely earning enough...
This news, disclosed here for the first time, is a big deal. Lots of Wall Streeters--loudest among them the hedge-fund legend George Soros--have been warning lately that speculation has inflated oil prices into a soon-to-pop bubble. But talk is cheap--this is something more. One of the biggest oil winners of the past decade has decided...
...things that prompted Rainwater's sell decision was a reader poll on the investing website Motley Fool--yes, even billionaires get ideas from Motley Fool. "What are you doing to deal with high gas prices?" the poll asked. Seventy-seven percent of the respondents said they were cutting back on consumption (by driving less, buying a hybrid, buying a Vespa, etc.). Rainwater, who was one of the 23% who clicked on "Absolutely nothing. I'm rolling in profits from my oil stocks," took it as a sign...