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...current case involves many charges - all told, six defendants, nine companies whose securities were allegedly illegally traded and many more than that number of actual trades. And while one alleged instance of illegality conveniently included Chiesi comparing her situation to the most famous insider-trading case in recent memory (though Martha Stewart ultimately went to prison for obstruction of justice and making false statements, not insider trading), many of the other instances could be more open to interpretation. This is a big case, and it will take a long time to untangle it in court...

Author: /time Magazine | Title: Arrests Open a Window on Hedge-Fund Culture | 10/21/2009 | See Source »

...cross over zero, comparisons get weird," says Van Dijk. Even so, the financial group's turnaround - it should log $15 billion or more in fourth-quarter profit - will give a strong boost to the S&P 500 composite earnings. The S&P will also be boosted by a famous departure: "GM was losing billions last year, but it's no longer in the S&P," observes Van Dijk...

Author: /time Magazine | Title: Will Earnings Reports Push Stocks Higher? | 10/20/2009 | See Source »

Disowns her hippie-liberal mom who doesn't believe in universities or sugar in attempt to win back Dan and famous roommate's good graces...

Author: By June Q. Wu | Title: Recap: "Enough About Eve" and Vanessa too, please! | 10/20/2009 | See Source »

Imagine two restaurants, one at each end of a block. One is a famous four-star establishment, known for its fine cuisine; the other is a McDonald's, popular for its low prices and speedy service. If the élite restaurant opens a branch on every nearby block, it will lose its cachet as well as its customers. Likewise, if the McD's starts serving pricey, five-course meals, its fans will take a hike. That's the central notion of this illuminating book. Maney, a veteran business journalist, calls this dichotomy the "fidelity swap." He argues that there...

Author: /time Magazine | Title: Business Books | 10/19/2009 | See Source »

...violence that has beset Detroit is, sadly, well known, but the utter collapse of the public-school system is just starting to be understood. Nothing captures that collapse better than the video, popular on YouTube, that shows the shocking condition of the building that once housed Detroit's famous Cass Technical High School. Cass Tech meant a lot to me and other graduates for the opportunities it gave us. The old building, abandoned for a newer facility for the school, was a war zone--a ruin of overturned desks, textbooks, TVs and other equipment that could have been packed...

Author: /time Magazine | Title: Inbox | 10/19/2009 | See Source »

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