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...methods of analyzing consumer data to unearth the most lucrative "revolvers," those who often carry high balances but are unlikely to default. Critics say contracts today, with their ever shifting terms and complex legalese, have helped customers get into more debt than they bargained for. Though Congress shelved earlier proposals for a credit-card holders' bill of rights, a new version was introduced in January, and this time, economic hardship coupled with populist outrage could translate into legislative change...

Author: /time Magazine | Title: A Brief History of: Credit Cards | 4/23/2009 | See Source »

...dimes. Spending cuts are often unfortunate, especially at Harvard—a place accustomed to abundance. Yet these cuts are also probably highly prudent and necessary, though it is difficult to be sure, since the university’s true financial picture remains cloudy. The decision made earlier this semester to reduce annual FAS departmental budgets and annual House budgets by 15 percent was a difficult concession, but likely sensible in the current environment. The recent announcement, however, that each of Harvard’s 12 Houses will be required to cut spending by an additional 10 percent?...

Author: By The Crimson Staff | Title: A Quarter Gone | 4/23/2009 | See Source »

...recent years, Harvard has included increasing amounts of disclosures on its tax forms. And in 2006, then-HMC chief Mohamed A. El-Erian hired a “chief compliance officer,” echoing a suggestion Rose made in a letter to Kurtz four years earlier. El-Erian, who succeeded Meyer and pledged to “rebuild and reinvent” the company, said at the time that the move was not prompted by regulatory requirements, but merely a desire to stay “at the forefront of the industry...

Author: By Peter F. Zhu, CRIMSON STAFF WRITER | Title: HMC Tax Concerns Aided Federal Inquiries | 4/23/2009 | See Source »

Although the district was notified of these figures earlier this month, it will not actually receive the money until July...

Author: By Sofia E. Groopman and Michelle L. Quach, CRIMSON STAFF WRITERSS | Title: School Stimulus Package Announced | 4/22/2009 | See Source »

...hunting ground for pirates. The sheer quantity of ships passing through its confined space - at one point the strait narrows to a mere 1.7 miles - makes spotting potential targets easy for pirates, and its route is a Hollywood-ready seascape of tropical isles and secret coves, providing ample hideaways. Earlier this decade, the waterway's piracy problem reached crisis levels. Attacks ranged from small-scale robberies by lightly armed desperados to highly organized hijackings of giant vessels by teams of professionals. According to the International Maritime Bureau of the International Chamber of Commerce, the Strait of Malacca suffered 38 actual...

Author: /time Magazine | Title: How to Defeat Pirates: Success in the Strait | 4/22/2009 | See Source »

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