Word: dollarization
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Those bullish on global economic recovery have their data points: the steady upward climb of world stock markets, three straight months of Chinese manufacturing expansion, the weak dollar. But there are still plenty of skeptics of a rapid and robust turnaround, with their own set of numbers to cite: continued bleeding of private-sector jobs in the U.S. and Europe, more record lows in new home construction, and, er, the weak dollar. (Watch TIME's video of Peter Schiff trash-talking the markets...
Still, many expected things to be different this time. The bursting of the housing bubble so soon after the tech-stock wreck was supposed to show the excess and folly of the financial-services industry. Many predicted a massive shift in workers away from dollar-crunching into the more real parts of the economy. The best and the brightest would no longer head straight to Wall Street. (See 10 perfect jobs for the recession...
Another life insurer, TIAA-CREF, the largest U.S. education retirement fund, has long been criticized for its billion-dollar investments in tobacco stocks. It now allows clients to opt to avoid such equities through special socially conscious funds. This is an option nearly all insurers now include in their portfolios. "As a TIAA-CREF participant, you do not have to own shares in tobacco companies if you choose not to," says spokesman Chad Peterson...
...Harvard’s Institute of Politics, was fond of saying that the power of the Presidency is the power of persuasion.Of course, the late White House adviser meant the U.S. Presidency, but without the trappings of the American executive branch, a standing army, or a multi-billion dollar budget, leadership on the Undergraduate Council perhaps offers at least an equally compelling proof of Neustadt’s thesis.Persuasiveness was a trait clearly prized by last year’s UC leader Matthew L. Sundquist ’09, a habitual social networker among undergraduates, faculty, and administrators.But for Andrea...
...department chair, and a house master. The first word that comes to mind is meetings. There have been countless hours of meetings, attended by the faithful on the faculty, the caucus of chairs, the house masters—all with charts and PowerPoint presentations demonstrating an unprecedented 220 million dollar deficit in fiscal year 2010, getting worse thereafter...