Word: dollarization
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...passenger screening, prohibited items, etc. would be complex, requiring coordination between many airlines and airports. If, however, the transaction costs are manageable, privatized security policies would incentivize more rational cost-benefit analysis, leading to policies that are both more effective and innovative. Faced with the threat of multi-million dollar lawsuits and irreparable damage to their reputation (think Pan Am), airlines’ self-interest would improve flight security far more than government central planning...
This trip from private equity to public conglomerate and back wasn't pointless. According to company calculations, if you count every spinoff and asset sale--plus a $2.8 billion shareholder lawsuit payout in the wake of the CUC mess--a dollar invested in HFS when it went public in 1992 would be worth more than $14 now--a 22% annual return, or more than double the performance of the S&P 500. Which means Silverman is probably worth listening to on one of the great questions of our day: Is it better for a company to be traded...
...there is no bottom to the barrel of radio’s lurid modern history; purveyors of still more odious dross regularly garner more success than Mr. Imus. Take the example of his longtime rival and colleague Howard Stern, who inked a 500 million dollar contract with Sirius Radio for five years of gallivanting with porn stars and teasing a handicapped man he calls “Gary the Retard.” Meanwhile, Rush Limbaugh made his name when he referred to the NFL as “the Bloods and the Crips without any weapons...
...significantly behind the other major candidates in overall fundraising, did not receive any donations from Harvard employees. Professors at Harvard Law School, where Obama received his law degree in 1991, were the primary source of the senator’s funds. Much of his take came from a high-dollar fundraiser last month at the Cambridge home of Kirkland and Ellis Professor of Law David B. Wilkins ’77. Both Wilkins and his wife gave Obama $2,300, the maximum contribution allowed for the primary, as did Loeb University Professor Laurence H. Tribe...
Stuart Heiser, a spokesman for the Council of Graduate Schools, said the increasing efforts of other countries to recruit international students should serve as a wake-up call for U.S. schools. “Just in the last six months a number of countries have announced multimillion-dollar marketing campaigns to attract international students,” Heiser said, citing France, Canada, Australia, and the United Kingdom...